Secondly, and more importantly, having a partner or trusted advisor, project manager, or the like with boots on the ground is crucial.

So it's vital you have an investor minded agent on the ground who can help you make a good buying decision.

It is a gut rehab and we are close to finalizing the rough-in phase. 

A vacancy and make-ready is way more expensive than a range, but if the tenant is one you don't care to keep then it may be something that you decide to stand your ground on. 

As part of the lease terms we would need to sign a corporate lease that allows us to advertise the spaces on AirBnB and include some concessions to allow us to get off the ground.

Then you have a 3rd party stating it is not a service animal then you have legitimate grounds to make the tenant get rid of the animal. 

Have phase 1 architecture drawings/site plan that have been informally reviewed/okayed by local building inspector.

@Tyler Thavong REITs are easy to get into now for the most part especially if they are publicly traded, if you want to buy and hold your own properties getting a job and saving is going to be the best option, you'll save for the down payment and develop an income history at the same time so you can hit the ground running at 18.

I remember a property once was sold at the auction that was hit by a lightning and burned to the ground. - There is the risk of damage to the property after you bought it, before you can get hazard insurance.- The owners might still be occupying the property.

They had already retired and were transitioning to their new phase of life.