The loan has been a game-changer, minimizing the upfront costs.

Most do not get in the game 

I am also relatively new to the real estate investment game and am looking to collaborate with investors on flips and long term rental portfolios in the greater Boston area.

If so it’s good you are reasonable and don’t have an issue with it because there’s probably not much you can do about it. 10 years is the standard is many locations though they do vary.  

I’ve seen it plenty of times over the years, and I’d say you’re already ahead of the game for thinking through this strategically.

Real estate is a long game, and as this experience shows, persistence pays off, even when things don’t go according to plan.

I know the actual cost can vary by location, property type, and provider, but I'm wondering if anyone has a solid set of rule of thumb they use when crunching numbers for a quick analysis?

Hi Jasmin,It sounds like you're learning valuable lessons in the fix-and-flip game!

Licensing requirements vary heavily by locality and usually the home will need to have a sprinkler system, bedroom size requirements, there may need to be min distance to any other licensed homes, etc.

Ellijay and Blairsville are late coming to the vacation rental game, but are trying to catch up quickly.