Assuming you have a budget of say $50MM+, I go after agriculture land, land with mineral rights and oil rights and ditch REI.

I'll disclose my budget & personal goals via 1:1 messages.

Prospective homeowners, consider property taxes when budgeting for your home.

Yes, a hard money / rehab loan could be obtained to purchase the property and rehab the existing house (IF the numbers work for purchase price, rehab budget and ARV).

You'll also need to learn a lot about the adult-care industry - insurance and licenses needed, how to find employees, budgeting, how to find tenants/patients, etc.

Everything revolves around the investor's niche, buy box, and budget.

It's essential to budget for potential legal fees, court costs, and other expenses associated with the eviction process.

-Has no crawlspace (common for older properties) so we couldn't see the foundation-Drywood termite/wood decaying fungi damage seen on all the windows/doors/parts of the beam on the exterior, parts of roof decking and rafters in the attic-Old leaks/moisture damage seen in the ceilings and attic-Parts of the roof has patch work-Roof doesn't have any permits on record (don't know how old it is)Seller's offer to me:-Fumigation treatment for drywood termites (tenting the house)-Replace and repair all damage wood throughout the house-Replace the entire roof with a new permit-Replace one window in every room (not all)-Pay for a structural engineer to inspect the foundation-Offer to get quotes for repairs and have a 15-20K budget to make all repairs, house is 500K.

As a first property I am leaning towards a multifamily home, likely a duplex due to my budget.

@Alex Ferranti, do you mean "after-repair value (ARV)" or "repair budget?"