Remember, the real estate community is a great resource for support and guidance along the way.Good luck!

Generally, this type of counseling might have a little fee to it but it's well worth it if it protects you (and them). 

Also the value (in this case) is determined by the NOI, so assuming it will be worth 2x, is assuming your NOI is thru the roof (which is can be, but it's not likely in the first 5 years).

It scares me thinking about trying the Airbnb route but this area has two distinct tourist seasons in the summer and winter so it might be worth it for at least some of the units.

However it is important to remember to make sure you have a plan to pay that loan down and not allow that credit card debt to climb back up.

If you’re exploring your next investment, it might be worth looking at markets where price growth is steady and flipping opportunities are strong.

Hey Phil, I remember that jittery mix of excitement and nerves when I decided to step up from the smaller stuff.. it can feel like you’re eyeing a big mountain and wondering if you’ve packed the right gear.

As you indicated, make sure you leave something in the plan for contingencies (absolute minimum of 10%), and keep in mind the cost to hold during the time it's under construction and being marketed.Make a plan, check it twice, and decide if it's worth the effort. 

Having to use their lender is annoying, but for someone who has done it before or at least knows it can be a frustrating process, it's worth it for the deal they give you. 

I remember chatting with my friend over coffee in Tempe just a few months back, after he’d gotten tangled in a set of local regs that made his head spin.