However you want to rehab and upgrade this unit, so you might choose to fish add a new breaker (circuit) and fish a wire to that room and add an outlet.

If they don't approve the project, all the time and money spent chasing it yields no return.3) Market Risk: The market can change during the entitlement process, which can also work in your favor like it did for many Developers in 2021.That's why knowing your municipality, understanding their processes, and making wise decisions in selecting which projects to pursue are crucial.Success in development requires choosing the right projects that 1) meet your criteria and 2) have a promising path to approval.The good thing is that this risk is compensated by having a higher return.

There are a handful of gulf front complexes that still cash flow positively but you need to be very careful as to which complex you choose as not all complexes and especially HOA's are created or managed equally. 

@Hsin-I Hsu  It depends on your long term goals, risk tolerance and earning potential.A couple of bay area sayings:   Any time you can afford to buy real estate you should.  

New to RE investing, have watched tons of BP episodes.My goal is to pursue mid-long term buy and hold rental properties, either single or multi-family.

To scale, I’d focus on defining financial goals, targeting specific property types, diversifying, and building a solid network.

Save them all..if you ever decide to do a campaign of your own, you will have good examples to choose from.

Having intentionality in your actions and goals set to enable you to reach that 1 real estate transaction milestone is important and will ultimately help you reach that sooner. 

When you work a 9-5 job, you typically rely on colleagues assigned to you.As an investor, you have the OPPORTUNITY to assemble your dream team of professionals who share your ambition and can help you achieve your financial goals.

What you do depends on your long-term goal.