Yes we definitely encourage everyone to STICK TO THE PLAN when renovating!

As important a consideration is how will you reinvest/spend the proceeds from the sale to build wealth.Hope this helps.

My question is: If the HOA changes the bylaws to ban smoking (which they plan to vote on), and the lease held by the smoking tenant only specifies no smoking "within the unit," is there any legal recourse for the smoking tenant?

You need to remember that, hopefully, this is a long-term play for you, so work with a trusted STR designer (I have great recommendations), and spend the money upfront so you can be the most successful in your area.

@JD Gunter I agree and should add that I spend 2-10 hours on the phone/zoom with each applicant before I let them into the program. 

If I did, I'd find a place I really like to visit and be prepared to spend a lot of time there making connections.  

If you are not planning to live in the property, then you are not going to qualify for an FHA loan.

If you plan to build your own primwry you absolutely want it to be your primary first not investment land first.

Quote from @Dave Chengoue: Quote from @Wale Lawal: @Dave ChengoueIt's great to see your focus on multifamily properties and your clear plan for self-management.

In addition to your down payment, plan for closing costs (around 2-5% of the purchase price) and set aside at least 3-6 months of expenses for repairs, maintenance, and vacancies.