There is a lot of work that needs done at the initial phases for a new build - but it can be fairly smooth sailing once you get the right GC and all the paperwork in place.Exciting prospect regardless!

@Jason Malabute Sorry to hear that it hasn’t all been smooth sailing for you this year!

I’m new to whole-sailing an greatly would appreciate the help.

Thats if the rental went smooth sailing.  

Now that we will be having a new president soon, i came across an article from marketwatch about the new real estate taxes.https://www.marketwatch.com/story/10-biden-tax-proposals-that-will-sail-through-a-democratic-controlled-senate-and-how-to-prepare-for-them-11609958777?

https://www.marketwatch.com/st...
Higher maximum rate
The pre-election Biden
tax plan would raise the top individual federal income rate on ordinary
income and net short-term capital gains back to 39.6%, the to...

I think when someone is new to investing, one must see that no one can retire off of their first investment property and sail into the sunset.  

The 3 commandments of REI are, always have been and always will be: You MAKE $ when you buy (and I'd add "....when you buy RIGHT")       You AMPLIFY profits when you reno/update      You REAP profits when you monetize (this can be sell, rent, re-finance, heloc, many more ways to reap profits than just selling)If you buy WRONG, over-priced, you just bought a boat full of holes, you will be bailing water while trying to repair those, there is 0 way to "sail right" in such a ship.

Real Estate Investing is older than: Television, Automobiles, The Dollar, Electricity, Flight, The United States of America, Communism, Refrigeration, Socialism, Gun Powder, Christianity, Islam, Sailing, Steel, Democracy, Medicine...... 

Too many new investors are looking for the golden sail, the pot of gold, or the quick way to make a windfall.