If these are non issues, you may do well.There is also a lot of competition in management of all forms now, so you should think about how you will contract clients and why they would choose you over someone else.  

Competition is high, but rentals are in high demand.

Many lenders offer competitive introductory rates, so if the goal is to pay off ASAP you will benefit from this. 

Finding good deals can be challenging, especially in competitive markets.

There's a lot of risk and it's highly competitive today.

There will be more competition when they inevitably come closer to 5%, so acquiring properties with assumably negotiable prices could be a massive hidden gem for you though the APR sounds scary!

We are still seeing many of these homes being listed for 100%+ over what they purchased a couple years ago.As a buyer, the positive is that the good majority of leveraged Airbnb investors have moved on from Joshua Tree leaving mostly cash buyers and if buying now, you should have a lot of leverage to negotiate with since the competition has thinned out.Mortgage interest rates move with the Fed and the general consensus is that there will be possibly only one rate cut this year in Q3 or Q4 with no more cuts until next year.

That's where bad experience/nightmare come in.Lastly, to answer your question, to build a basically designed, square/rectangular house without crazy jigsaw puzzled cuts on roof, the following price is a good competitive construction only price for what you need to do:Around $165 per sq ft on conditioned space (for an average 1200 to 1800 sq ft house, 8-9ft high ceiling, everything is investor grade finishes), $90-100 per sq ft for garages/unconditioned storage, $60 per sq ft for porches/opened spaces.  

Hello Biggerpockets,I’m a moderately experienced and networked real estate investor looking to start exploring the wholesaling niche here in LA.Looking for a gut check of my strategy, and to speak with anyone pursuing similar niches here in LA or other highly competitive markets.Context and backgroundMy first deal was a massive live-in flip.

Currently in a 23’ M4 Competition Xdrive.