Additionally, there’s always a risk that any pet-related damages could be hidden under furniture or otherwise concealed, potentially leaving us to cover the costs if the security deposit is fully depleted by other expenses (e.g., damages or unpaid rent).

As of this week we have secured the land.

I’m also in the process of launching a new home inspection company, which I’m confident will help me get back on track financially.

I am asking anyone knowledgeable to provide any measures or strategies that could materially make a difference in heading off the risk of serious financial harm of the eviction process with non-paying tenants.

You will receive the security deposit in Checking but then transfer it to Savings.Savings: Hold the deposit here so it's separate from operating funds.

While both involve finding and properly securing a site and bringing it to full entitlement, the ground-up process includes the land piece but gets way more involved and complex to execute.The full "Monty" for ground-up development needs to include financial literacy, an explanation of metrics, and how they work.

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

It's impressive that you secured a deal like this with no renovations and turned it around the same day.

But we are also both very used to corporate and used to having a security of a job.

Prior to investing, I asked my coordinator if the loan was secured and she said yes, it was secured by their property portfolio.