@Roman Balmakov If you are planning on holding the property long term and have enough reserves to cover even worst case scenarios it could still be worth it. 

For the community development dept, you'll need proper plans (architect), site survey, permits, etc. when you're ready. 

I believes that well-planned real estate investments can open the door to financial freedom and generational wealth.Welcome!

Hey everyone,I'm a first-time real estate investor and have been planning my first property purchase for years.

Make sure you tell them exactly your plan and make sure there isn't a catch.

We also allow users to amend a post at any time with additional information.We have no plans to change how the forums work as it pertains to the deletion of posts.

I'm planning to turn it into a rental and was wondering if I should consider hiring a property manager for my first rental.

Some investors also use a business line of credit backed by their cash flow, which can help with future deals.If you’re planning to scale, maybe start stacking that cash for the next property or even park some in T-bills for short-term returns.

If you plan to grow your portfolio, consider setting up separate LLCs for each property to shield them from liabilities tied to others, though this adds complexity and costs. 

@Ramsey Doumani This is a great plan.