So, he already had people & processes in place when he moved back to California and continued to DIY manage his rentals.- It's also interesting that he doesn't want to DIY manage anymore.

If you can't even do one, then continue to save judiciously to get your "starter investment capital". 

I have a small wholesaling business that operates in King, Pierce, and Thurston counties.

Most lenders will vary how aggressive they will get based on the experience of the operator (you), but I don't know any that will lender to someone who's never done a spec build like you're contemplating.

@Sean Doyle - Toledo is the only city I operate in.

Hmmmm why does the same person own both, but they've let the house go to foreclosure, but continue to pay on the tennis court?   

When I run the numbers based on these rents, the property operates at a negative cash flow.If I increase the studio's rent to $1,400 per month, the property becomes cash-flow positive.

I’m hoping that once I do have enough saved I can buy the second property and continue house hacking.

It's not perfect but it's a start and something for you both to look forward to as you continue building your life together.Some other questions to consider are:1.

We look forward to an incredible 2025 and continuing to grow our businesses together.