I would encourage you to break it down into. 1) single or multi family 2) Buy and hold vs flip --I would definitely buy and hold if you have limited knowledge when it comes to property repairs (you can always flip later).  

Are there approved vendors you must use for unit repairs? 

@Zachary EngenMost lenders will allow a cash-out refinance of up to 75% of the property’s appraised after-repair value (ARV), not the purchase price or costs.

So far there is some indication of a little uptick for 2025 booking - I've already booked out a few weeks beyond the winter, which is when I go down and take care of maintenance and repairs - and in the summer, but traffic and inquiries are way, way down.If you feel like seeing a blood bath, just pull up the MLS and look at the Margaritaville development.

You have to understand repair costs, ARV and many other things.

Yes - include ALL expenses in your math, including reserves for repairs/maint, capex, turnover, etc.

Get on the phone with the GCs that comment and have a good list of vetting questions/see pictures of their past projects.

I have been in the construction industry, mostly residential renovating, so I know how to spot damages, repairs, and/or things that need to be replaced.

@Dennis GallagherIt's my understanding that the "Income-Expense Ratio" primarily use operating expenses as the expense variable, which includes costs like utilities, property taxes, insurance, maintenance, repairs, property management fees, and trash removal, all of which are considered when calculating a property's operating expense ratio (OER).You calculate OER by dividing the total operating expenses by the gross operating income of a property.

I then do a search for the “real owner,” and get their phone number and they are shocked when I call them."