Purchase price: $110,000 Cash invested: $30,000 Hobby Farm On 10 acres2300 sq ft house with 8 out buildings - Large Barn, Animal/hog barn, Mid-size machine shed (2) 25' x 35' / 30' x 50', Large Machine shed 60' x 60', Grainery barn, Entertainment Barn, 3 car garage What made you interested in investing in this type of deal?

In August 2022 I was with a group of investors at a property we had recently purchased in Costa Rica.

Do you have a track record of purchasing and operating real estate on your own?

Sandra For transparency purposes, I believe you meant to say that you purchased a turnkey property from Memphis Investment Properties, not Memphis Invest. 

Step 1: Get preapproved for an FHA loan for the purchase price you are looking for.Step 2: Connect with builders until you find a few that will finance the construction of your home. 

It's been 2.5 years since I purchased my first property and now that everything in my personal life has slowed down I'm back on the horse and ready to find my next investment.

Purchase price: $940,000 Cash invested: $250,000 I purchased a Self-Storage Facility.

One year after I used that property to pull a HELOC and this year used that money to purchase an off market 4 family property in Clinton for well under market value, which I just recently finished all of the repairs and upgrades on.

You owe two taxes:A. capital gain tax on $150k ($500k sale - $350k purchase)  PLUSB. depreciation recapture on $100k of depreciation taken.Now, let's assume that you messed up somewhere along the way, and you only took $70k worth of depreciation instead of $100k.

Its usually called a post-completion or post-purchase mortgage.