I personally like the buy-and-hold strategy and we help clients who share this long-term, wealth building mindset. 

Which is very complex and costly and likely warrants professional help.Now, if it's just you and your spouse, then your 2024 tax preparation is likely relatively straightforward:- you will create a Schedule C on your personal tax return- you will NOT report any costs of purchasing the property or its rehab, not in 2024- you will report your business overhead expenses such as marketing, driving, technology etc- you will end up with a business schedule showing zero income and some expenses - not breaking the rules but potentially raising an audit flagCan you do it yourself?

Personally, I think this company is probaby about to go out of business - they have lots of inventory, and it's not exactly prudent to be investing in FL in the coastal areas now anyway.  

I have a situation where a person I know is moving out of the country and would be looking to put their home for sale in the summer.

I financed the acquisition of the land with personal and private money.

I personally would not invest in detroit as historically its not a appreciating market and for cash flow and I invest primarily for appreciation - I go off the location location location mantra. 

Since I know how to turn a wrench I am going to do almost a full remodel myself with the help of my father.

@Sonya Sharova I haven't personally done Frank Rolfes boot camp but I have heard it's great.

I don't have any brand preferences personally (I use Fantasy Spas at most of my units but I'm sure there are alot of reputable options), but just make sure wherever you place it is built to handle that type of weight.

Personally, I advocate for a long-term investment strategy and would recommend investing the funds, provided you are comfortable with the expected return on investment over time.