By year three, I aim to cover all operating costs and, by year four, to generate positive cash flow.Experienced investors say it’s crucial to persevere through the initial challenges while gradually building credibility through positive reviews, and I believe them.

Timelines, budgets, quality of finishes, they all need to go well for your exit and if your in bed with a GC that only cares about himself then all those things will not go right for you, but he'll still get his money.People really underestimate the following:1) The cash they need to close and carry the project2) How hard it is to have a GC stick to what they promise3) How long it may take to exit through a sale

It goes to your preference, of course, but whichever can produce the greatest ROI should be considered.There are many markets in Michigan, for example, where it is cheaper to buy an existing house and fix it up than it is to build new.That may not be the case where you are at or through the construction suppliers and contractors you may have access to.To Your Success!

If you're in a market thats going through a population exodus, then you are correct that it'll be harder to pass through costs  you are debating macro-economics while ignoring supply and demand fundamentals. 

To maximize your investment, use financing options like FHA or conventional loans, analyze deals based on cash flow and cap rates, and network with local investors through REI meetups and BiggerPockets.Good luck!

But if you can secure one with solid terms, it could be a great way to access capital while keeping the rental.If you believe in 28277’s continued appreciation (and I do), I’d lean towards holding the rental, increasing rents through strategic upgrades, and leveraging equity via a HELOC or cash-out refinance if the terms make sense.

@Brian Freeman Sorry you had to go through that.

Hello all -I have been thinking of getting into realestate investment for a while with a goal of generating income stream (today my only income Is through my job - I make decently as a senior exec). 

My budget is slightly constrained for this first property so looking to save on purchase price and hopefully add value through renovations.

Just got Ins. relocation since Dec through Feb.