Land that you're not personally developing most of the time falls into two categories - either you're speculating that development is coming that way, and will increase the demand for the land, or you're changing the current permissible use of the land in such a way that it will be worth more money now or in the future.

One notable advantage of preferred equity is the relatively lower risk compared to common equity.

Start by breaking down the project into major categories—like electrical, plumbing, HVAC, flooring, and cabinetry—and get estimates for each.

@Catherine Javier If you find the property is more of a liability to you and ultimately decide to sell, the 1031 exchange would probably be the best way to take advantage of using the tax and find something with a greater growth potential.

@Maria Jeanette Using a self-directed IRA (SDIRA) for real estate investment offers control over asset selection and tax advantages, such as tax-deferred growth (Traditional IRA) or tax-free growth (Roth IRA).

Wondering if the vacancy rate is higher in the area as it seems more advantageous to just buy a house and pay mortgages rather than renting.

On the house hack, you can divide common expenses by square footage or bedrooms, whichever is more advantageous. 

Sounds like you have a great advantage with your background and time living locally.

However, understanding their requirements—such as down payment percentages, reserve requirements, and loan-to-value ratios—is key to getting approved.One of the biggest advantages of working with portfolio lenders is their ability to fund deals that traditional banks might pass on.

The categories (accounts) are pretty much always a mess because everyone sets theirs up differently.