That's a lot of land, finding the right people to work with is the hardest challenge you will face.

Although I taught college level RE classes in the past, putting it into the new formats and medias is pretty challenging for me.

Once you own the land, receiving a cash out loan on it will be very challenging...especially here in Texas. 

It would be very challenging to find ANY 30 year fixed loan in the low 5s right now. 

The more engaged the contractor or investor is throughout the process, the better it will turn out.

We plan to let it cash flow and continue to for another 30-40% of interior unit rehab whenever the unit turn.Turning around a huge 174 units apartment complex within this short time frame has been challenging.

Your passive real estate returns (if you did not engage in real estate as a business) would not come close to matching the active returns you are able to make as a successful commercial real estate broker.P.S.

HOWEVER with the new tax law intrest paid on HELOCs is only deductable if the proceeds of the loan are used on your primary or secondary homes.With this new law in place we, the investors, are now faced with the challenge of accessing our equity and still deducting the interest it costs us to do so. 

It’s typically quite challenging to make the numbers work to cash flow here.

Our biggest challenge is moving away from traditional lending means as we do not want to wait to accumulate 20-25% down payments in savings before buying multi-family properties.