My properties are within 50 miles of NYC near the shore and in Colorado within 1 hour of Boulder and Fort Collins, so I think 3% would be a safe estimate for appreciation.

@Cade Collins As Nick mentioned, it is extremely important to have a qualified and experienced team (both design and construction) to be able to execute a high-end project.

Erie I could see having some great appreciation in the next 5-10 years considering its an affordable nice area to live in between Denver and Fort Collins still somewhat accessible from Boulder.

@Ron Collins

Also, remember you're up in Collin County, so I'd be shocked if you somehow drew a tenant-friendly JP.

@Devin Collins Although the traditional FHA loan (FHA 203b) has a requirement for the primary borrower to occupy the property within 60 day of closing, The FHA 203k does not have a requirement where the primary borrower is required to physically occupy the property.

@Shannon Collins thanks for the post, it was definitly an eye opener, can't believe anyone could live like that. 

@John Collins- yes creative financing is a great way to go.

@Robert Collins

For further context, my house is located in Oakland County, MI Hey Collin.