If you fail to follow the rules, you may open your personal assets to a lawsuit.

Not enough information for anyone to determine what to do as this would be based on your financial situation, income, and personal choices along with not knowing anything about what you would build, what it is worth etc. 

Even a 200K home (fairly low dollar in the FL market) requires a 40K down payment which is tough to come up with without a hard money loan/HELOC combined with a conventional loan which would then be tough to make any cash flow.

That's enough money out of my pocket that I will work hard to ensure a unit is filled quickly.If the unit is not rented after 14 days, we drop the price.

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.

Hi Jonathan - Thank you for this advice & sharing some of your personal experience!

You can put less money down (allows you to put money towards more properties), live in the unit for a year, add some light renovations, and refinance.

The IRS will never contact you by text, email or social media to request personal information.Education for Your Staff: Be sure your staff knows how to recognize a phishing attempt and how to report it when one occurs.

With your experience, it definitely makes sense to handle most of the renovations yourself—it could save you a lot.For financing, you could consider a hard money loan to cover the purchase and rehab.

I personally think it is a function of the market cycle, and real estate is where money is currently flowing.