It sounds like a fun and interesting deal if you can really dig deep into what the others are saying above and gather all the knowledge you can about the zoning/opportunities.Good luck!!

Originally posted by @Deep Johal:hey Diego welcome to the forumI think the best advice would be to shadow somebody doing the type of RE investing you want to get into., Maybe offer to help out or work for free on part of the deal to get some experience?

Some properties are turnkey where factors can determine whether your knowledge base will suffice or you need a more in-depth view others are heavy deep renovations where it would be a best investment protection to know what you don’t know; possible septic issues, roof, mechanical electric... then it’s best to get a pro if your a pro or have one. 

There were some great deals with those who had very deeps pockets because it was not just a rehab, you also in some areas were required to knock down, then rebuild fresh or lift and then rehab.

Later in life you can make up some BS story about why the juniper tree is incredibly important to you on a deep and personal level.

Thus, I think they have set us up for another crash of breath taking proportions. 

I already had a background in fixing up places, but I really didn't start diving deep into renovation until after we had the first property.I know it's terrifying.

This will run 20K for the well in some cases depending on how deep you need to go for good water.

There is a lot of information on BP about running the numbers on possible acquisitions.My advice is to dive into the wealth of information in the Videos section of this website.I am trying to gain more, and more knowledge and luckily my off-days just started so I will probably be on this site every second I am up for the next two days digging in deep and taking notes.

The margins aren't wide enough (cash flow is negative even without paying insurance) and the reserves aren't deep enough in this deal to allow for a cushion when things go wrong, which they inevitably do.