We purchased 133.7 acres January 20th of 2024, we then proceeded to subdivide 4 building lots, ( two 10 acre lots,  and two 2 acre lots)  which included costs associated with septic testing,  survey & subdivision, and property maintenence required to market the building lots.

(+1 sub)speaking of uncut gems. it's interesting that was the movie you were going to watch, given your situation. can't really compare RE to gsmbling, but the guy had heart and wouldn't give up for nothing. great job on persevering thru this storm! 

You said public water was available...would the lots require a septic system to be installed or is public sewer available? 

.- **BRRRR (Buy, Rehab, Rent, Refinance, Repeat):** This strategy can be lucrative, but it requires careful planning and execution.

Because one of my first questions dealt with the job’s complexity, to which I asked the loan officer to review with underwriting if this would be a problem.

If you do a good job picking tenants, you will be fine.

That still has the 50% use requirement, but can be used to create a tax loss. 

So, I also require that :Monthly Rent + Monthly Debt Payments <= Gross MONTHLY Rent * 45%This is similar to how mortgage qualifications work by considering the applicants' debt loan along with their housing cost in relation to their income.

The guidelines require the 750 hours to be spent managing and working on real estate.

Can they be more passive than having a 9-5 job?