New construction offers a unique blend of potential high returns and control over the investment, making it an attractive option for those looking to diversify their portfolios.The Advantages of New Construction InvestmentCustomization and Control: New construction projects offer investors the chance to tailor properties to meet current market demands, ensuring higher occupancy rates and returns.Energy Efficiency and Sustainability: Modern constructions come with the latest in energy-saving technologies and sustainable materials, appealing to a growing eco-conscious tenant base.Lower Maintenance Costs: With everything brand new, the initial years following a new construction project see significantly lower maintenance costs compared to older properties.Tax Incentives: Many regions offer tax benefits for new construction projects, especially those that meet certain environmental or economic development criteria.How to Approach New Construction InvestmentEmulating Buffett's investment strategy involves careful market research, understanding local real estate dynamics, and potentially partnering with experienced developers.

That said, initially it was a bit of a hurdle just navigating from going from fellow tenant/ roomie to LL/ roomie.

We were approached with this and I initially thought it would be a great fit, but went home and got chewed out about the toxic chemicals and liability. 

I read your initial post to mean that you wanted to buy out the partner and then create an LLC to reinvest (with you and your father as LLC members).  

They'll do a lot of initial legwork and feasibility analysis, which is especially helpful if you're just getting started.

If you are trying to recoup some of the money you initially used to purchase and rehab the property and ok with using the purchase price and documented improvement costs you can get back to that money quickly.

Oakland's Fair Chance Housing Ordinance prohibits landlords from asking any questions or requesting information related to a tenant's criminal record on an initial rental application.Apr 19, 2020 

Market circumstances might change, even if your intention is to flip the property, so think about your choices in case your initial plan doesn't work out.Market Analysis: To verify your predictions on future appreciation, growth in the rental market, or the effect of renovations on property value, do a comprehensive analysis of the market.Time frame: Evaluate the opportunity cost of having your cash invested in a non-performing asset and be realistic about how long you're willing to wait for the property to turn a profit.Investing in a property with negative cash flow can be a calculated risk under the right circumstances, but it requires a higher level of due diligence, market insight, and financial planning.

At present, they're about to be three months late on payments for three separate notes and I keep getting told he "initiated the wire"...five days ago. 

@Nick C.You bring some interesting points.The sargassum has been an issue for a while now but it's mostly seasonal and so its impact hasn't been what I initially feared, as you can read from this very recent article: https://www.riviera-maya-news.....