You must know something about it already, since you got involved in it. 

While the traditional approach involves buying a multi family property, living in one unit and renting out the other - with rising prices and interest rates; others have considered renting out bedrooms as unit spaces. 

For your first question, writing a scope of work (SOW) involves detailing all the tasks and materials needed for your project.

RE is a lot more active and involved, even if you hire a PM and a GC which BTW eats up your returns.

Undoubtedly, the biggest regret is getting involved in the short-term rental market.

Offer to intern, find a way to get involved.3rd - If you find a deal, you can then find financing! 

There is less risk involved in the cheaper properties .

She didn’t even have to get involved with tenant issues, which is a win in my book.But here’s the flip side:Not all property managers are created equal.

It involves much more than collecting rent or throwing up a Craigslist ad every blue moon.

This could involve offering a higher interest rate in exchange for reduced upfront costs or deferring payments until a certain milestone.If building right away isn’t feasible, consider buying the lot now with the goal of paying it off over time, and save up to build when rates and budgets align.