RE Brokers in the area are a key team member as they should know the area, good rental areas, and they will be a good resource for rentals (possibly, if they deal in rentals).

@Pixel Rogue The cash out proceeds should be for business purposes such as investing in another RE project. 

I am not sure about the RE laws in the market you are referring too however in the State of WI if there is a property a seller does not perform on contractually, before expiration we have our attorney draft a notice of interest into that property and file it with the county. 

@Bruce Woodruff hi, the business in not RE.

RE is not a passive investment.

I would look at it in terms of whether you can afford a worst case scenario where you're covering the deductible and have a credit line or cash to front the re-build cost and getting reimbursed from insurance afterwards.

With our vision mentioned above, we're allocating a whopping $3M into the complete renovation, re-brand and makeover of the hotel.THE INVESTOR: For those of you who don't know me, I'm Blake Dailey and this is my 6th Boutique Hotel investment!

It’s great to hear how BiggerPockets has helped you grow your RE portfolio.

i feel like RE is one of the best examples of the exponential growth or delayed gratification. the small things we do and the connections we make during our real estate journey seem so insignificant at the time. but it only takes 1 opportunity or one phone call to launch us to the next opportunity and then everything starts to build on itself.

It's an awesome way to jump into RE yes its scary at first but as long as you have a criteria going in it eases some of the emotions during the process my biggest thing was lower my cost or keeping it the same.