Renovations often come with unexpected challenges and expenses.

We'll still look at a multifmaily deal here and there, particularly if there's a retail component, but not currently our main focus.

I experienced this myself when I had 25 units a few years ago.You will have evictions, turnover costs, unexpected repairs/maintenance, CapEx, vacancy, etc.

My gut tells me that Texas, particularly Austin and Houston, could be where the next wave of growth and expansion occurs, mainly driven by strong business and job creation trends.Here’s what I’m looking for in my US investments:Free-standing houses with a good land component, at least 3 bedrooms and 2 bathrooms, and in well-maintained condition.Budget : Will have to keep a factor of safety for the current exchange rates of AUD.USD = 0.68 so will cap our budget at 250K- 300K.Yielding over 6%, with a slight cash flow positive outcome, while also offering medium-term capital appreciation potential.Holding for at least 5 years or more, with a view towards steady growth.The long-term goal is financial independence, reducing reliance on salary-based income, and building assets during this accumulation phase.Debt reduction is on the horizon—looking to consolidate and start winding down debt within the next 7 years.If anyone has experience investing in the Texas real estate market or any tips on navigating US property investments, feel free to share your thoughts!

Construction can have unforseen costs, construction loans for rounds of funding can be more expensive over time, rent markets can drop, vacancies in market can increase.Typically entitlement phase of land most risk, followed by development, followed by vacant building turn around, followed by half vacant building, followed by mainly full building with value add component, followed by brand new building with market or below in place rents and everything new with good location.Along that spectrum of course you go from heavy equity upside potential to mainly just the cash flow return and hopefully price appreciation over time.Investors have to decide on the spectrum of their risk assessment to capital over what period of time how they will allocate between all one type of investment or multiple and what percentages.

There is 3 primary components, ingredients, required to achieve such elevation of self in financial success your speaking of. 

They value how it is to live in a home over the infrastructure and mechanical components.

I like to look at each component of the process on an itemized level first so that when I do work with a developer I can have my own reference for all the bundled costs associated with the build proposal. 

It's tough when unexpected costs pop up, but those experiences definitely make us sharper for the next deal.Switching gears from renting to selling was a smart move given the circumstances.

- What should we look out for during the walk-through to mitigate unexpected expenses?