Additionally, trying to spot paint even a white wall with white paint doesn't work, let alone other colors.

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

That would be a helpful addition to your plan as you would further reduce your cost of living.Also don’t forget from that $600 you are planning on getting in cash flow you have taxes, insurance, maintenance, capex, and vacancy to consider.With two homes, you may want to keep that extra $20k as an emergency fund rather than spending it on a third property and then be left with no emergency funds.

Additionally, we have equity of approximately $145,000.Now, we are faced with a dilemma: should we sell our current property and purchase in a more favorable neighborhood, or should we rent the house and let it pay for itself.We would greatly appreciate any advice you may have.

My best advice is find a place that has a few rooms with square footage to add additional rooms and an ADU.

For STRs, properties near the beach or downtown tend to perform well.Start Small and Smart: If this is your first property, focus on something manageable.

Are you currently managing your own properties or do you have a property manager because many times a property manager can perform the work needed for it to be turnkey.

These are professionals with additional training and a stricter code of ethics.

They will have additional costs for mailing & online campaigns to get leads.

So sad to hear that all the time and money you or your clients invested and the trust you had for Delta Build were lost, in addition to the lost opportunity to otherwise make money.