2) Re the flip, Do you have any experience in construction, or dealing with contractors, as well as your local building department?  

We see so much population and job growth here especially now that major companies like Intel, Meta, Google, Amazon, etc. are moving and developing here.

I do not recommended listening to the majority of folks on this thread.

@Helen De la rosaConsider truly self-directed Solo 401k if you are eligible, it has several major advantages to SD IRA.

Purchase price: $1,410,000 Cash invested: $282,000 16 unit major value add off market multifamily apartment purchased in June 2022 without any investors or outside capital.

Usually, this is pretty typical to have the lender finance the majority and the seller finance a portion with the investor coming out of pocket with somewhat of a down payment in commercial real estate. 

Many of our investors at our brokerage have pivoted to the rent by the room model through platforms such as homeroom or padsplit which is pretty prevalent across the south east and some other major metros.Happy to chat specifics - feel free to reach out in dms or contact info in bio!

Just 218 miles from Silicon Valley, Reno benefits from its proximity to major economic hubs.

Being new to the area, finding subs to bid jobs at a reasonable price is probably going to be one of your major challenges. 

One of my coworkers does a lot of private lending similar to this and he always goes to a title agent in the area of the property and asks for the title's legal department to draft up legal loan documents.