There will always be people with money who want a second home in Colorado who are fine as long as their mortgage is covered.

I want the cash flow to cover any expenses the property may have.With my next property I am trying to figure out what state/town to go to.

My business partner and I financed the deal for 1272 Lakins Rd entirely with cash, covering both the purchase and all renovation costs.

Structuring the agreement properly, outlining how profits will be split, who covers the rehab costs, and what the timeline looks like can ensure the seller feels confident in the process.

Take a look at Personal Property versus Real property coverage, plus clean up costs to make sure your covered.I would also look at covering your project from the Subcontractors. 

It depends on where you want to live, income, personality, and other factors.You could buy a large home and rent out the individual rooms to cover expenses, but this comes with problems.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

@Frank Pyle I am at $175/ft  on a 36,000 SF over covered parking 18 Unit condo building I am preparing to break ground on in Philadelphia.

We are planning to hold it for 5 years and bought a rate cap to cover the entire hold period. 

I hope that covers your question(s) Thank you Cari.