If you set your priorities on investment properties and place the SFH on the back burner for a few years you will be financially far further ahead in 5-10 years down the road.

The old chicks, fat chicks, and ugly chicks will say that it ain't so, but they are wrong.

This will involve more overhead and more risk as the cash flow won't be as fat. if your goal is to keep things simple with very low risk, it's a great idea to pay properties down as fast as possible and buy the next a little while later. growing faster usually means Slimmer margins on each deal but more deals coming in and in the long run a bigger snowball at the bottom of the hill.

It's been tough studying nuclear engineering and putting my dreams on the back burner while in the Navy, but it sounds like I might be able to pursue some of my dreams at the same time.  

Since then I've been devouring the podcasts and forum discussions like fat kid in a Twinkie factory.I'm ready to get out of analysis paralysis and take my first steps towards achieving my financial goals, so I'm sure you'll see me around here more often.  

They have spoken the way they want to and you won't get anything else out of them.Personally I would set this application on the back burner and continue advertising and showing and hoping someone with better references comes along.

Sometimes it's unavoidable, but you can definitely minimize it by being really comfortable with your original plan, and where you will cut the fat when (not if) you need to.Then, the construction loan is only very short term so you need to make sure you have solid contractor who can get things done on a timeline.

The owner of the park sold the whole thing shortly thereafter.Moral of the story, even though those cabins might be new, someone else in your area might be renting out furnished houses that are older but bigger than the cabins, and the houses have better amenities like a full 4 burner stove (not a hotplate that's in a cabin), washer/dryer, cable, faster WiFi, better location, bigger beds, etc. 

. :) I've got like 5 back burner properties I check up on once a month per borrower request at the moment - I don't reach out to the back burner borrowers until I think we're at 5-10% more equity than we actually need for the loan they want.

The only other caution I'd throw out there is that when you start working with other clients, the personal deals can sit on the back burner because of the duty and focus being on the clients and not your own stuff.