what would you think of a 14,600sqft 3 unit property in sailboat bend, off market, that is RMM25 zoned and has a nice single family and duplex behind it, half of the lot if empty so it can be developed or RV/trailer parking, for $1.1M?

I have over a decade of experience in strategy consulting and in real estate underwriting for new acquisitions and ground up developments.

Get on a budget, build your emergency fund, pay off all debts, save up.

@Malcolm Brown it is great that you are thinking of the money to fund the deals you are going to get started with but understanding what a deal is, I think, should be the starting point. 

Our first accepted offer was a 320 unit deal that we contracted, put up non-refundable (yeah, I know) earnest money, and thought we had our financing and money in place to do the deal.  2 weeks before closing a major (several million) partner pulled out leaving us short of the funds needed to close. 

Most 1031s will start in one location and end in another anyway. 

Right now, we’re carrying about $60,000 in debt ($40,000 in credit cards and a $20,000 car loan).

We are a small partnership with 4-5 properties currently, but we are growing and hoping to find a reliable lending partner that we can do repeat business with.About 3 months ago, we successfully completed a BRRRR deal where we had excellent numbers, over a 1.25 ratio at 75% LTV, our guarantor partner has an 800+ credit score, and we had no issues qualifying for the loan.

FHA 203k is an amazing product and under used! 

Laundromats and carwashes have gained popularity exponentially almost in the 6 years.