How much upfront costs are typically involved in a project before you know if it's a viable project to pursue? 

However, as we delved deeper into the project, we realized that a complete remodel would be more beneficial.

Build a strong team, prioritize cash flow, and take the time to understand the local market and regulations, especially for development projects.

There is a catch - the couple wants to 1031 the funds into their sons next larger project which is TBD.

I'm an experienced project manager with hundreds of cradle-to-grave efforts under my belt, including building project scopes and budgets, evaluating contract proposals, and managing construction to maintain the delivery of high quality products on-time and in budget.Penny is a licensed clinical social worker (LCSW), serving the community mental health needs of parents, children and families.We both recognize we have an immense opportunity to serve our community and want to capitalize on the blessings we have been provided so that we can continue serving our neighbors.My wife, Penny, and I are looking to transition into commercial multi-family real estate in 2025.

I am looking to connect with people in the industry who are proactive and looking for their next project.

My family also owned a construction company, so I have some experience in handling projects associated with real estate. 

Use tools like AirDNA or Mashvisor to provide market data on projected rental income and occupancy rates, and make sure your lender works with appraisers familiar with short-term rentals.

A great REALTOR will help you gather rental history and the cost to own and show you good sites for pulling rental projections, but you will need to do your own calculations.Everyone's mileage varies.

I would suggest the first thing to do is get connected to a lender that can fund your projects across the country so you know you are pre approved and have no delays in the purchase process.