@Adrian Lammersdorf-Scioll nailed a lot of those areas that I would say as well. 3.

Also, a state law went into effect putting a cap on "non-exempt" properties tax increase at 20%: https://comptroller.texas.gov/taxes/property-tax/valuing-pro...

He told me the nails holding it was loose, so he went throughout the house, re-nailed all the gutters.

Smaller local markets are harder to nail down accurate ARVs and find reliable trade labor.Regarding managing general contractors, I've heard some horror stories from our owners who have worked with GCs they've never met.

So stoked to hear when you nail your first deal!

Again, Avery nailed it.

This can add up.Property Standards: The house has to meet certain standards, which might limit your choices in a competitive market like LA.Loan Limits: There’s a cap on how much you can borrow with an FHA loan, which might not cover the higher-priced homes in LA.My Take:If you’re set on buying now and can handle the extra costs, FHA could work.

They generally do not deliver un-assembled, as they are actually put together on a jig, and nailed together.

In my example of a $1m building, the taxpayer recognizes $1m of gain, much of that ordinary, and then maybe gets a $100k depreciation adjustment on the outside....so they are getting nailed with $900k of mostly ordinary income.

:)”@Curt SmithYou hit the nail on the head.