The Highway 64 property presented a great opportunity due to its low acquisition cost and potential for substantial value increase.

Even if you're in a local 50+ league and want to be competitive, a coach is probably over-kill.

While this can be good for long-term appreciation, it can also impact cash flow for buy-and-hold investors.Insurance Costs: Florida's hurricane risk can translate to higher insurance premiums for property owners.Competition: Florida's popularity attracts a lot of investors.

For a conventional loan, you can borrow UP to what you paid for the property plus closing costs OR 75% of the appraised value which ever is less.  

We did get much lower costs when we changed to minisplits but the initial cost is high.

I think because it's so competitive to survive in California, and being accustomed to high prices, they view the rest of the country as opportunity. 

The current costs of construction are so high that you can just find more bang for your buck buying as opposed to building.

The primary risks at this point would be       1) to your lender, the risk of a margin call.       2) To you; underestimating the true cost of a project and cost overruns      3) To you; legal risk of securities regulations if you partner looses money. 

These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.

To save those costs, you might want to stick to some year build and older, for example, if you cannot do inspections on the properties that you are buying due to off-market deals or something else that is hindering you (all sellers I buy from do not want anyone in the home till we close).