Determine Your BudgetSet a Realistic Budget: Consider the cost of tuition, living expenses, and your financial situation.Mortgage vs.

Sometimes, buying an existing property can be more cost-effective and less time-consuming and maybe require slightly less permits, etc. 

Anything you do remote will come at a cost of operational inefficiencies and a higher cost of doing business.

.: I’m currently renovating a rental property and exploring ways to manage costs without compromising on quality.

Even still, it could be said that I've still lost money due to my time on the tools instead of prospecting as a real estate agent (the cost of lost opportunity).If you can truly do 80%-90% of the work yourself (at acceptable quality levels) and you aren't sacrificing your time where you can get better returns for your efforts, then yes, it can work even up here in Canada.

My strategy incorporates asset protection measures like LLCs, specific trusts as well as professional property management to spread risk and ensure quality operations.As well as using tax codes to my benfiitSection 179, IRC Section 162, Cost Segregation and Bonus Depreciation and later 1031 them out for larger projects. 

If you don’t have a clear understanding of your cash flow, operating costs, and future expenses, you could be setting yourself up for financial stress down the road.The Power of Financial ClarityYou can’t make smart decisions without knowing the full picture of your finances.

While under contract, we perform due diligence and there will be some soft costs incurred. 

The market between the 2 locations & resident class (Especially if you plan to self mange or find a PM company), Your future goals and the costs associated with moving and transferring to a new hospital. 

Each one with separate addresses and utilities.We originally put $585k of our own money into the project, and by the time we were ready to go to market in 2023 we were into it for about $2M (the pandemic really threw a wrench in our timeline and costs but also greatly increased the value).