Now the last piece for me before I feel confident making offers is getting a grasp on a potentials deal's rehab needs (the rehab part is my big blind spot as an investor).I've put together a list of about 10-12 contractors to initially contact in the area, but I feel a bit hazy on the bid process, and how often you can ask contractors to look at houses and give you an estimate on repairs.

I take bits and pieces from him.

When the insurance company gives you a check there will be a piece of paper you have to sign that says the insurance company gets paid first and then anything left over is yours.

But there is a currently a piece of legislation making progress that I've read would require cities/counties to have an amnesty program for units built before the ADU rules were passed (and many municipalities already have this in place).

I have a few pieces of advice that I would be happy to share.

@Omar @Omar Khan So let's assume that 30k is not my entire capital pool but my risk capital distinct from my portfolio/Net Worth/Savings.

@Thomas RutkowskiI want to put the money into a piece of real estate rent it and eventually sell it.

I have a piece of land in Pensacola FL- It is 1.5 acres in the middle of town.

There is no distinction between investment and home ownership in the law.

Am thinking of teaming with someone to build a spec home on piece of property and sell it (or maybe rent it).