If you're planning to invest locally, I highly recommend it.

and i know that that there’s risk involved, so ill always be prepared for things not going according to plan. and i think starting small and gaining knowledge and experience over time is key. 

If you don’t have a backup plan, you’re in for a rough time.I don’t say any of this to scare people off—I’ve navigated all these challenges and built a great portfolio.

We closed on our first property on November 15 and plan to employ the fix-and-flip strategy. 

This literally appears to be their plan at that point 6 months ago.

My plan is to live in one of the units while renting out the others.

7% is probably good for projections, but I would ask whatever bank you're planning to go with where they're at and factor in an extra 0.25% to be safe.

A trust transfer allows for smoother estate planning, and if inherited after their passing, the land receives a step-up in basis, reducing future capital gains tax.Each method has pros and cons depending on their estate plans and your long-term goals.

You can finance it with an FHA loan (3.5% down) or a conventional loan (5% down) if you plan to live in the property.

I don't think the market will continue to appreciate as it has over the past few years and that equity isn't something I can realize until I sell the property which I don't plan to do.