So excited we found tenants, we took our realtors word for it and didn’t properly vet our new tenants.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

In other words, you would have already invested thousands prior to the auction just to research the properties and their titles.What is your recommendation because without doing a proper title search (which sometimes takes weeks and passes the auction date), how would you know if what you're buying is a good investment?

While both involve finding and properly securing a site and bringing it to full entitlement, the ground-up process includes the land piece but gets way more involved and complex to execute.The full "Monty" for ground-up development needs to include financial literacy, an explanation of metrics, and how they work.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

Take ownership of your mistake and learn to do the proper due diligence recommended above😊

If your exchange is not done properly or your funds are not safe you are going to kick yourself for trying to save $500. 

so he has an initial negative equity in excess of $100k.so -$100k / (a very small cash flow when properly allocating for expenses and vacancy) equals years before there is any cash flow.  

Quote from @Alvin Sylvain: This could be a good idea if executed properly.

The typical clients that seek out cost segregation studies include:Real estate companies that buy and sell multiple properties each year.Individuals with a portfolio containing investment properties including apartment buildings, multi-family homes and even single residences.Franchise owners with properties that are similar to one another such as assisted living facilities, storage facilities and golf courses.Business owners of hotels, food facilities, shopping centers, restaurants or manufacturing plants.It depends on the type of property, but generally 15-45% of the building’s costs can be classified into assets with a shorter life.