Quote from @Jimmy Sont: I'm looking to build around 700 sq ft 2 bed / 2 bath guest house primarily used for short to mid term rentals.

They respond quickly, and appear to listen to your concerns.

I work with an auctioneer who is selling a 103 unit hotel at auction in the southeastern part of the US.

A general range tends to be 85% to 100% covered.

@Sharon Porter,Investing in a state-controlled property like this can be an opportunity, but it's critical to understand the legal and logistical nuances.

My long-term goal is to own 20 units, and I’m trying to figure out the best strategy to keep growing.Current SituationI've been using my primary residence’s HELOC to finance and renovate my rental properties.

I haven't bought a deal or anything I'm still saving up, I'm at 25k I'll hopefully be ready to buy in the next three years, otherwise the city I'm buying in is Barrie which is generally a great appreciation market, I've got two brothers Chris owns two rental properties and Ryan just bought his first partnering up with my brother chrises second deal, so I might partner up for my first deal I don't know yet tho depends on what my brothers want to do.when shopping properties I do remember from the book you shouldn't buy properties based off cap rates but im wondering at the beginning do you first skim this information say the property is listed at a 6% cap rates which is common in the Barrie market would I then would go walk the property and see if things are viably ok, once I believe it's resdy for a professional inspection I'll get information about deferred maintenances mainly capex based off what I need to repier I'll be walking the property with the professional and I guess he'll give me a rough cost of How much everything that is needed and when I need to get the work done due dates, also I don't know how to calculate how much I should set aside in monthly terms after I get the required information from the inspector I'll be doing this for the first time, if the pure cash flow is incheck  I believe usually NOI is usually around 60% including appreciation and mortgage income andone going deferred maintenances around 35-40%, now I'm ready to make an offer?

They are the ones responsible for your actions.In TX it is a one page form we are required to provide at the first substantive interaction. 

It’s awesome to see your excitement for real estate investing, and congrats on your first land sale, that’s a great milestone!

Here's a https://www.irs.gov/businesses/cost-segregation-audit-technique-guide-chapter-4-principal-elements-of-a-quality-cost-segregation-study-and-report to the IRS website noting specific items that are included in the cost segregation study report.