. :)@Ronald Rohde  yes, I can get a 5.75 -6% with my local bank.

My name is DJ Shipley from Indiana, newly passionate about real estate investing for 4 months. 

If you want, I can get you my contact in CA if need..

I plan to use a HELOC for the improvements to create lots with improvements.My plan for the rest of the parcel, now roughly 7 acres, is to built a primary home for my family, and to put in 5-6 cabins.

For my first investment deal, I wanted to learn how to manage a property that is still within reasonable distance, but far enough so that it will force me to automate and learn how to manage it remotely.

In the end it's my responsibility to forecast any big projects that may happen in the next few years and make sure I'm covered for those.

So I don't have of ton of advise but in my process, I found that they paid the same as market rate for rent.

@Miki SheinaizenI recommend finding local meetups to attend. https://www.biggerpockets.com/forums/521I have found all of my best connections at local meetups.For your BRRRR strategy, partnering with a local property manager and connecting with contractors early on can help streamline your rehab process, especially if you’re not local.

Naturally your relinquished property must be sold before you can take title to the new property, but its a great way to make the process as smooth as possible.Even though the time frames can feel daunting I find that 95% of exchanges from my clients are successful.

I just closed on my second 4plex in Emeryville this week, which is 75% occupied, and every unit is renting below market (~$250-$1500 less).