@Tim PhillipsRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

SaintVil Expect the project to take significantly longer than expected.For example, in two different markets, we expected the permitting time to take 2-3 months and construction time to take 6 months.

Since it's not a primary residence, you are going to need to have 20% in to make the rate work so what loan type are you expecting to start with using your HELOC?

The tenants will be staying at the premises for the duration of the repair and expect compensation for the inconvenience/impact.

It tends to be much easier to raise money and oversee the property with passive investors whose only role is to write you a check than with active ones who will manage the property with you and expect decisions to be made by consensus.

I'm not sure how much I'd expect to pay for closing cost.One is without payment assistance; the other is with the new generation loans in Minnesota. 

Good to know - I'm new to the whole seasons so I will have super low expectations for next two months...

For a new developer with no experience, I would count on having to have 25% of total project cost (if land is 150k and cost to build is 350k, total project cost is 500k so expect to put down 125k). 

Small yearly increases train tenants with what to expect which reduces stress and allows them to plan ahead for lease renewal time. 4.

I would expect to see property management, admin, marketing, and contract services (more than just lawn care.)