Quote from @Richard Eric Hughes: My question is what ae you planning to do?

By understanding the costs you may encounter upfront, you can take control of the process.Here are just a few things experts say you should be thinking about as you plan ahead.1.

In order to do this you need to have deal flow and you need to know 1) How to recognize a good, profitable deal, 2) How to put together funds quickly to buy the deal before someone else does and in such a way where you are protected and the deal is protected, 3) How to run the project so that you follow the budget and don't overspend or overbuild, 4) How to attract an end buyer or a renter and which documents to use to protect yourself and the buyer, 5) If you are going to keep the property then you need to know how to set up the property from the start to best help you in the refinance later, and 6) You need to know how you are planning on managing the property from the beginning in order to make sure it will be profitable at the end.

It would cash flow nicely.One item to plan for from the beginning is the exit. 

Scope of WorkThe Subcontractor agrees to perform the following work (“Scope of Work”):Detailed description of tasks and responsibilities.Exclusions: [List any exclusions here].Materials to be provided by: [Contractor/Subcontractor].Reference drawings or plans: [Attach if applicable].2.

Would love to hear more about how you plan to scale up your portfolio and any lessons you’ve learned so far!

But if you lay out your plan to the owner over the phone, it's very hard to get a "yes" because trust is developed with a face to face meeting.Trust can be established by talking about your past record (as an investor) but also if you have something positive about yourself (profession - real estate agent, nurse, teacher, fireman, doctor - any profession that can give you some added credentials).#4 Owner vs.

Liquidity is important if this is money you plan to put to work in the near term. 

But anyone who books that is either going to pay next to nothing to be 25 minutes from all the stuff to do, OR, they will book it for the amenities and probably plan to stay in.Probably 90% of my guests in nashville have booked for location.

Would love to hear form some Multi-Family owners/operators in these markets about pros/cons and specifically neighborhoods to avoid.My wife and I have been to Columbia SC many times and, while we have never been to Little Rock Arkansas, we plan on going in Late March!