Additionally, since you need to replace your vehicle soon, you should consider how that $30k purchase fits into your overall budget.Take a close look at the current housing market in Orlando, where prices are around $400k for decent homes.

Lower prices usually mean less attention to details, slower communication and most importantly additional fees.

In addition to my full-time role as an engineering manager, I’m building my real estate business as a side hustle with plans to grow it further.My current focus is on assisting first-time homebuyers and investors, but I’m always eager to explore new strategies and opportunities.

An additional goal with the LLC is to hopefully write off some time and miles I put in on these properties as I self manage and repair.

Something else to consider is that once these properties are paid off, you could cross collateralize to purchase additional properties that fit your buy box so that you may not need to bring cash to the table for a down payment.

By-right uses are much simpler since they don’t require additional government approval beyond standard permits.Development Standards: Once zoning is clear, factor in the regulations such as setbacks, parking requirements, density, and other local standards.

Besides my current rent, I still have to pay an additional $1~2000 for the mortgage, etc.Pros:Better financing rates than for investment propertiescan manage it myself to save the PM feehaving my own place without worrying about rent increasesCons:May only afford a small townhome or apartment, not sure if I still want to live there after 5 yearOption 2: Investing in Out-of-State Multifamily PropertiesI could use my cash to invest in several multifamily properties out of state and use the cash flow to cover my rent.Pros:Potential to spread risk across multiple propertiesThe cashflow can cover my rent, maybe have extra leftCons:Additional costs for property managementLimited potential for appreciationHave no experience in managing OOS property, and I am afraid it will be annoyingI’d love to hear your thoughts or any advice you might have.

DM if you have any additional questions.

Or it could be something like dialing in on and area and figuring out exact requirements for parceling off additional lots - find an old house that nobody wants on 5-10 acres.

If the purchase price is 70% of the home's final sale price, what portion of the additional 30% is the $ spent on the flip and what portion is the average net gain?