Many local businesses that operate in the downtown area by the state park (including some famous attractions) close for the winter or reduce hours.

The BEST method for real estate investing is very simple: increase earnings, reduce expenditures, save, and invest from your own funds.You should focus on increasing earnings and learning how to manage your budget.

While not mandatory, a specialized accountant can reduce errors and provide significant tax-saving strategies tailored to your situation.This post does not create a CPA-Client relationship.

This reduces exit options and affects the value. 10) Small number of small units is the most expensive residential development there is.

Limiting leverage, for any loan ever = reducing lender exposure/risk.

My question is, do I just use the heavily reduced price I was able to purchase it for since it was vacant, and then the material cost of what I renovated plus what things I did contract out, even though that basis would be way under what the other renovated houses that sold near me per SF sold at, or are you able to use similar comps to determine the depreciation basis?

In construction, there is only so much you can do to reduce your margins while staying profitable.

@Mordechai ChaimovitzGreat points made above along with what @Daniel C. said referencing @Tom Shallcross's post on another thread.The context and variables for each individual investor will vary but many people are comfortable with getting a 2-4 unit that will reduce their out of pocket expense compared to their previous rent with the intent to do rehab and raise rents over time.

We had good capital gains on our first new property so we were able to inject that in our current primary residence reducing mortgage amount.

DO NOT INVEST INTO PROPERTY EXEPECTING EVERYTHING TO GO SWELL OR EXPECTING YOUR JOURNEY TO GO THE EXACT SAME AS SOMEONE ELSES AND THEN TAKE NO RESPONSIBILITY.