In short, I can afford the additional $1100/mo cost of a second house, even until I rent it out.I have around $35K in HYSA and emergency funds that I could use for a down payment, but that's less than 20% which would be required for a conventional loan, assuming full purchase price.

We purchased 133.7 acres January 20th of 2024, we then proceeded to subdivide 4 building lots, ( two 10 acre lots,  and two 2 acre lots)  which included costs associated with septic testing,  survey & subdivision, and property maintenence required to market the building lots.

The hilly terrain is a main reason for this and you can't really see that on a map so knowing the areas is key.We have old housing stock as well so big things like plumbing and electrical can vary cost wise if they have or haven't been updated.

It would cost me only $2300 per month which includes rent utilities furnishing and property management. she showed me one example only of a customer who profited greatly.

There are ways to mitigate the costs and protect yourself to the extent possible.

This lowered my cost basis per lot by 7k.

Then there is the time element with holding costs.

I do understand all recent syndications are struggling with costs and tenants struggling to pay, so trying to be patient for now.

Cost of construction is expensive and about to get worse.

How about opportunity cost?