Combine this with interest rates that are near the high for this century and cash flow is challenging.  

This usually works where there is a lot of garages.If you have the means to solve the financing challenges a tic/coop can be another sophisticated value add.Note this is just some value adds.  

By setting appropriate expectations, we can ensure a smooth and successful investment journey.When it comes to syndications, there are unique challenges in exiting or restructuring investments due to diverse investor expectations.

The challenge for me will be to attempt to mirror this type of financing approach to Southern Calif. real estate. 

People all of the time, "over estimate" the opportunity and "underestimate" the cost and challenges in doing a profitable flip.

Challenges?

However, I emphasized the importance of open communication and encouraged them to reach out proactively if they foresee any challenges with future rent payments.

Being young will present challenges in a field where experience is highly valued not just with lenders.

Lending terms will be important here.I'd say the biggest challenge thus far is making sure I feel comfortable managing this remotely, as it's located about ~150 miles east of Dallas. 

Always prioritize cash flow – Even if you don’t need the income now, properties that cash flow will be much more resilient during market downturns or unexpected challenges.