Be conservative with your numbers – When using a cash-on-cash calculator, I recommend budgeting at least 10% for maintenance and repairs instead of 5%.

You could probably afford $20,000 without much impact on your budget.

Eliminate debt, establish a budget, and save.

Hey Kaleb I’ll leave the market research to you, but ultimately, it’s going to come down to your budget, cash flow, and level of experience.

So far the biggest challenges for out of state investments has been finding reliable contractors or help to complete projects on time and under budget.

BP is informative and entertaining, and there is a lot of information available, but the information in the forums is scattered.

I KNOW I am not up to Accredited.It seems to me to be "backwards" thinking that there is LESS risk to a 'novice' in a FUND since the risk is spread out over many Notes and professionally managed, whereas an Individual Note seems like it would carry WAY more risk, especially picking the 'right one' for your investing goals, budget, etc...? 

In order to do this you need to have deal flow and you need to know 1) How to recognize a good, profitable deal, 2) How to put together funds quickly to buy the deal before someone else does and in such a way where you are protected and the deal is protected, 3) How to run the project so that you follow the budget and don't overspend or overbuild, 4) How to attract an end buyer or a renter and which documents to use to protect yourself and the buyer, 5) If you are going to keep the property then you need to know how to set up the property from the start to best help you in the refinance later, and 6) You need to know how you are planning on managing the property from the beginning in order to make sure it will be profitable at the end.

However, after accounting for long-term capital gains tax and other expenses, you would be left with $150k which is important to budget and account for.

Beyond the bedrock issue, soil conditions can be costly if the property has problematic soils such as too much silt, deep topsoil, or extensive wetlands.You'll also want to know what ordinances are going to affect your budget - things like tap fees, tree ordinances, storm water retention policies, etc.Bottom line is that you have to investigate ordinances, off-site conditions, and on-site conditions before you can even begin to budget your development.