Once the above skills and tools are acquired, understanding the sequential process of the development along its timelines and costs needs to be correctly implemented.

Hoping" for me was never a strategy as the future is unpredictable.I hoped my $480,000 condo in Chicago would appreciate and it didn't move since 2018.My tenant a crypto exec has been paying me $3,000 in rent on the 28th of each month like clockwork for 5 years now.No capex, no issues at all and that has been a breeze.3% ROI isn't sexy enough to me tho 🤷‍♂️I'd probably be cheering right now if it moved up in value but it's been a dead deal in my eyes.But it is what it is.The numbers in a deal TODAY per se don't rely on hope and are a more predictable outcome.Granted, the numbers need to be "worked" and a more "hands on" approach is needed in such markets.Thanks Hi Engelo, you have been doing this for a long time and I know you have the skills and tenacity to manage high-cash-flow properties, but you have to admit, you are working hard for your cash flow, this is not passive at all.

I then sift through these properties and use my development skills to identify properties that have the potential to be developable for residential purposes.  

You are indisputably more skilled and knowledgeable at real estate than me.

But there is no black and white guidance that I could find.And, in conclusion...1st conclusion: no FICA until the child's 18th birthday.2nd conclusion: tax law is muddy (I would add two capital letters, but it's a family-friendly forum)3rd conclusion: pay your CPA, we have to deal with it daily, and it takes skill

I'm not sure if I want to do co-hosting though.You may be like me and think that "one more book/podcast/course" will give me what I need to acquire whatever skill I'm looking for. 

Unless new companies create replacement jobs in the city requiring similar skills and pay comparable wages, your tenants may be forced to take lower-paying service sector jobs.

I had been scouted more times than I can recount to come to CA to apply my skills because the standards I came up in exceed that of CA and most places. 

Hi Mike, I'm brand new to RaiseMasters and I'm finding exactly what I need to skill-up & scale-up my learning & my business.

With Debra's expertise and keen negotiation skills, we secured the home for $100,000, ensuring it was positioned for a profitable and quick resale.