You need to know the market well, have enough reserves for inevitable expenses, and closely monitor the asset’s performance.

Has anyone else here invested in syndications with Shared Estates Asset Fund?

Does this unlicensed contractor have any assets you could actually collect against?

My responsibilities included construction and contractor management and overseeing the asset's successful marketing and sale.

Single family homes are great assets but starting out I'd try buying a 2-4 plex  so you get a feel of what real estate investing is all about.

Most hard money lenders can lend you up to 90% of the purchase price and 100% of the rehab costs with a 12-month term and a rate of 10.49-12.49%Hard money lenders issue what's called an asset-based loan, so they will consider the property itself along with its potential future value, not your personal financial situation.

I currently own a lot of land in Miami florida and its worth around 50k. im looking to pull out 15-20k in equity but cant seem to find anyone that loans on land assets. let me know BP fam

You have gotten some great advice already in here but I will touch on the guest experience portion and local partnerships.My tips for guest experience:Have a digital guidebook explaining everything inside and near by places to visit.Record a YouTube video of yourself touring the property and showing the details of working things.

You can either continue the depreciation schedule from the property sold, and create a new fixed asset for the additional amount invested to obtain the property (Two Depreciation method), or you can opt to treat the new asset as one asset (Single Depreciation Method).

As @Robin Simon noted this deal is going to be too small for most DSCR lenders as their min loan size on these are $250,000-$500,000If the property is not rural and you need to do a DSCR based loan, I have an option with a minimum loan amount of $100k however the rate will be in the double digits.