Then use the experience to work out the kinks and build a strong boots on the ground team.

At least with FHA 203(k), you cannot do ground up construction.

Sounds like you've started your research on OOS investing, but the single best piece of advice I can give you is to establish a trusted investor-friendly agent who will be your boots on the ground once you decide which market you want to target.

To get a rough ballpark, sure, but sometimes you'll be way, way off like we've seen with the iBuyers who it turns out were too smart for their own good and ended up buying high and selling low due to to relying on data and not actual organic, boots on the ground experience pulling accurate comps like an appraiser or realtor who knows the market on not just a block by block or street by street but a house by house level.

@Lillian Pintaro,Birmingham’s a lucrative market—it’s been my stomping ground for nearly 20 years, and you can find some excellent deals if you know what you’re after and dive deep by zip code, neighborhood, and city block.For what it’s worth, we manage 2,000+ units (many for out-of-state investors) mostly in the north and west part of town—so think suburbs outside the city limits like Graysville (35073), Adamsville (35005), Mount Olive (35117), Center Point (35215), and the like.Since you’re also open to the surrounding areas, places like Odenville (to the east) and Tuscaloosa (to the southwest) could be worth checking out.

@Martti Eckert in our opinion, you'll need to be really familiar with construction, including costs, or be able to find somoen on the ground you can REALLY trust (but still verify).

I am grateful for your remarks.

Being able to use real estate to offset taxable income requires some sort of participation on his end.If he wants you to be the boots on the ground, it will likely be hard for him to reduce his taxable income.

You have five separate violations that are all grounds for non-renewal, and several of them are significant enough that I would aim for eviction.

Have you run to ground all the more common issues?