I know that I am taking a huge risk by wanting to build but the existing properties are either in areas I’d never live in or too far away from the Metro Detroit area and I really want to come back to the city in the safer parts before I’m priced out in the future. 

Pro - I avoid any future repair expense.

Incurring losses every year will mean that the losses will be suspended and carried forward and will offset future passive income.

After two years, if everything is going well, I might explore the BRRRR method.For now, I’m focusing on the Austin market, but I’m open to exploring other markets in the future.

Austin is a fantastic market, with its growing tech presence and vibrant culture, making it a great choice for your future career. 

With hopes to build two additional cabins in the future.

Hi Michael, Using a HELOC to fund your first rental can be a smart move, especially if you want to keep your cash on hand for other expenses or future deals.

Will refinance if rates go down in the future. 

Most bookkeepers won’t work in it if you plan to outsource it in the future.

I was in a leased building, counting on a hand-shake deal to buy the property in the future.