Acquiring land seems to be the biggest hurdle for many spec home builders.

Our biggest bill in our lifetime is our tax bill and we need to find legitimate ways to reduce it.

Biggest suggestion would be to make sure you are flexible, willing to work with multiple housing programs, and hire a good manager if you are not going to self manage the units.

Property taxes and insurance are typically the two biggest recurring costs.Below is an overhead cost comparison of three states with no state income tax.Sources for insurance and property taxes: Insurance - ValuePenguin, State Property Tax Rates - Rocket Mortgage.To demonstrate the impact of taxes and insurance on net income, I compared the overhead costs of a $400,000 property in these three states.

My biggest advice is to not use a financial planner, everything you need is on the Internet for free.

Trail each purchase w a 10% downside stop loss limit order if you're not confident in the REIT, then continue your research on private real estate, and when you have the capital/team in place/knowledge of the local real estate market put it to work then, no rush. 

The biggest competition in our area is the Amish community.

My biggest concern is the flood certificate says the main floor of the property is 3.7 feet above Base Flood Elevation.

Significantly longer tenancy is another, which reduces turnover and cuts down on our turnover cost, which is our single biggest operating expense.Like I discuss in the video the ROI on finishing a basement is pretty terrible, but it ads to the life style we are looking to create.In terms of rent, this is more than double the median for Milwaukee.

One of the biggest factors for people's pace is their risk tolerance.