Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

Our village does quite well for it's self.

Options like a unique amortization schedule or a 3/2/1 or 2/1 stepdown interest rate could provide initial relief to get you through the renovation phase while giving the seller confidence in a structured payoff plan.To determine an entry point, consider reducing the price based on the current NOI.

There’s no single right answer to every situation, but the more you educate yourself and build your network, the more confident you'll become.Lastly, don’t hesitate to ask questions here, no matter how small they seem.

Moreover, I would recommend prioritizing a W2 position over 1099 self-employment/sales for two reasons.

You basically sell to your self but still own it. 

Self-purchased and managed.

A realtor can send you a walk through 360 which can be good enough to get in on some listings to make an offer.Once you make the offer fly out and do a personal walk through and then figure out do you want to self manage or hire a local manager.

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

No management costs as it would be self managed, and estimated property taxes by the average of the past few years.