The one I mentioned in the original post was one we never even went and visited because the initial approach to the property scared me.

At competitive market rates now and still have original tenants.

I have not had him sign another since that original one.

Do you still use a regular purchase and sale agreement with the original seller with any included addendums specifically for wholesaling, and are you legally required to verbally disclose to the seller and buyer or do these disclosures just have to be in the contract itself?

Original plan was to build 3-5 years down the road, but now with the lot fully paid off and significantly appreciated, I would like to use this equity to kickstart real estate investing into cash flowing properties.

Maybe I should have started a business instead.Adding to my original comment, the people I know who left their W2 started way back in 1998 (that California appreciation) or in 2014 (bought the right properties and benefitted from the run up in values from 2019 to 2022) or started in 2015 by house hacking in CA and with their high W2 incomes ($200,000 to $400,000) leveraged and scaled to 2023 and are running RE businesses.

Cash out refi 2 other properties residential properties, use the funds to build, keep original residential loan on land3. 1031 1 or 2 properties to pay for construction.  

Original poster: if you don't want to keep it as a rental property, it doesn't make sense to put the $30k in it.

Are you able to use the extra $75k plus your original equity to buy something that would cashflow and appreciate?

The original post is most helpful in explaining this.