And boom you buy a lot for the price of a single lot and with some simple forms to the city you get to re establish the old lots..

@Otis Clayton To partner in real estate effectively, establish a clear structure like an LLC for liability protection or a Joint Venture for single projects.

Dear Wilkes-Barre-Scranton area, my name is Gabe and I'm relatively new to the real-estate game- but I'm eager to learn.

Gotta have some skin in the game. 

Within a year, the property was cash flow positive and had appreciated significantly.For you, I’d suggest:Look into ADU laws - They’re a game-changer in San Diego, especially if your partner is handy with renovations.Expand your market - @Dan H. makes a great point - it's a competitive market here!

It's not a get rich quick scheme, it's a lot of active work and I would have 5 yrs in my head at a minimum before you truly become established and stabilized. 

Trusting a GC can work if you thoroughly vet them, use a detailed contract with clear milestones, and establish systems for accountability.

Additionally:Is there a specific state where it makes more sense to establish the holding company (now that anonymity in states like WY or DE isn’t the focus)?

- regional / drivable destination (I've personally rented out a bunch of Airbnbs here)- already established STR laws (while very strict, they have shown to grandfather in permits and haven't proposed a flat out ban that would also retroactively take away permits)- Fredericksburg also fights new hotels just as hard as STRs.

But it's in your interests to make sure the property value makes sense and the borrower has skin in the game.