The plan is to keep operating the property as a PadSplit post-acquisition.

As a beginner investor based in the Seattle metro area, I'm eager to learn from your experiences and share my journey as I get started in this field.My current strategy is to focus on live-and-flip for the first three deals (looking for my second deal) to gain hands-on experience while building equity and learning the ins and outs of renovation and the local market. 

The way to extend this is to start looking for the acquired property BEFORE you settle on the relinquished property. 

It's rare that you'll find a good seller for #1, so the only option remaining is to document the condition from the day of purchase.

Something I would recommend from experience working with people is to figure out your ideal niche and stick to that, at least just starting out.

The plan is to transition into a new home in 2025 or 2026 while converting this property into a long-term rental.

But if your goal is to cashflow positive from the Day 1, you may find it very challenging due to current day interest rates, high cost of construction and the fact you won't have the efficiencies of a seasoned developer building at scale.

Best practice in cases of broken glass in the pool is to drain the pool.

My plan is to set up a syndication fund with Canadian (and U.S) investors to purchase short-term rental properties in the Puerto Vallarta and Rivera Nayarit area (which is booming).

My main goal is to find something relatively close to the DMV area but without the DMV price tag.