Quote from @Jason Hoekstra: I just finished a 1 bedroom build 866 sq ft in Chalet Village on a one acre lot with long range views.  

I'm going to offer up a few words of caution, as well as the way I like to approach flips.... but to answer your up front question on financing, the typical heloc is going in the 9% range.  

More than likely, it would end up being a house hack somewhere in the 300-375k range.

Aren't loans like this usually in the 10-12% range?

When I started managing single family homes, lease up fees were the other main fee that investors focused on and the fees ranged from 50%-100% of the first month’s rent.

I’m starting small, with a “Slow and Grow” approach, and have found a 2 BD SFH in my price range (under $150k) that needs rehabbing, BUT it was foreclosed and is now sitting vacant.

Diverse Amenities and Lifestyle: Katy, Texas offers a wide range of amenities, including shopping centers, restaurants, and recreational facilities, enhancing the quality of life for residents and making rental properties more attractive.

We manage a few MF complexes ranging from 8 to 24 units.

I use a credit range for deposits.

It's just that said premium is $500-100k range, not the $1.5 million premium the ops asking about.We have 2 architects here that bring premiums.