Now I've got a property under contract:$78K purchase$35K in development of utilities.$24K in soft costs (permits impact fees etc)$200K (or less) buildout of the house (size tbd on after-build-appraisal) Likely going with 2/2 A frame 1000 sf.

My business partner and I are developing a 60 acre 15-unit glamping/wedding boutique resort in Asheville, NC right now and learning a lot along the way!

He is completing some residential developments in Denver, NC currently.

He will own 1/2 of about 4M in real estate after 2 years and is already under contract on 2 more developable projects.

This development, spanning nearly 6 square miles, promises to create thousands of jobs, generate economic activity, and transform the local economy.

The first indication is you spent $290k for $1800 cash flow or a 0.62% monthly ratio.Rent $1800 - PITIH $1480 - $180 (pm) - $90 (vacancy at 5% which is lowest i ever allocate in my underwriting and likely low per the OP description of a lot of new development) = $50 for all other expenses.Maintenance/cap ex on 4/2, 2100’ will exceed $300/month even in cheap labor markets on sustaining basis.  

The primary goal is appreciation adding value building equity and therefore net worth.I’ve been at this “game” 46 years  and there is no magic bullet.It takes time, discipline and consistent effort.But it can be done in 10 years.Of course this means living below one’s means - ie spend less than they make - to develop and build cash and capital that can be invested and then watch ot grow over time.Hope this helps.Arn

If we do a Self Storage development we expect a 400% COC return.  

Quote from @Adam Ortiz: Hey everyone,My biggest dream is to own my own property, and start developing some cash flow.

There’s a lot of new development going on in Huntsville proper, but properties in nearby suburbs like Athens, Decatur, or Meridianville are both more affordable at present and less prone to competition from new construction.$150,000 can buy you a tenant-ready 3 bed, 2 bath single-family home in a B-grade neighborhood.