The projected rental income wouldn't cover the mortgage and HOA at this time.

Your background as a licensed architect with experience in commercial and residential projects is an incredible asset, especially here where so many members are navigating construction, renovations, and design challenges.Out of curiosity, have you worked on any projects that were particularly challenging or rewarding?

Many who want to scale  fail to take this into consideration,  take on too many projects at once, have no capital to advance the construction and ultimately get stuck in mud unable to advance any of their projects.

The objective is to keep as much of your operating capital intact as possible.The goal is to buy, fix, finance, and avoid leaving cash in the deal, so you always have liquidity for future projects.

I would not expect to replace your W2 income in the first year and would project it to take 2-5 years before you were able to replace it, unless you are sitting on around 3-5M right now.

When I started in WA DC area funding a few new projects..

I didn’t have the funds readily available due to other projects, but because of the trust we built, he offered me a seller financing deal, allowing me to purchase the property without putting my own cash down.

Have also done work in DC and Maryland and would say Virginia has significant benefits over DC and Maryland because it is more business friendly and jurisdictions are willing to work with not against developers on projects I mentioned as well as you mentioned With the federal government and government contractors not going away - area is great for investment.

99 percent of the time someone is selling a project mid-construction or after gut, it's because they already spent too much on it and know it won't work.

Reach out if you need any advice or you have any project initiatives.