Southern border of the land is Wilson Creek (a large, well established, full time creek with old growth trees)Approx 1 acre of non-recoverable flood zone along length of creekTwo small ponds on the property, which can be filled in to utilizeSmall neighborhood to East of property line with utilities ready and available for project Currently a couple of older homes and barn structures on property (100% liveable and well maintained)Wilmeth Rd is currently expanding down the block to a 4 lane road which connects to Highway 75 in McKinneyLarge developments are underway within a 1/2 mile to 3 miles out radius<4 miles to Costco, ChickFilA, WholeFoods, Cinemark, major hospitalAT&T Fiber and Atmos Gas at front of propertyA water well can be run, if desired, or tap into the city's water (currently on city water and has large main at front of property)A CE firm has drawn up plans for a small, 12 home, 3/4 acres development.

Continue reading, listening to podcasts (like BiggerPockets), and connecting with seasoned investors to soak in as much as possible.2.

It’s inspiring to see how you’ve been so intentional about preparing for this next chapter—your commitment to learning and gaining hands-on experience will serve you incredibly well in fix-and-flip projects.

@Mitch MesserHey Mitch,Can you send me this companies information as well?

I personally like long term rentals, but it sounds like the numbers don't make sense and if you cant afford to or can't justify covering that much negative cash flow then another strategy is renting by the room, that works well if you have or can convert to at least 4 or 5 bedrooms. 

The property has been in the same family for 30+ years and has been well maintained. 

This is particularly beneficial in popular tourist areas where demand for short-term lodging is high.Flexibility: Owners can choose when to rent their property, allowing them to use it personally during off-peak times.Support for Local Tourism: STRs provide a unique lodging option for tourists, helping to boost the local economy by attracting visitors who may prefer a home-like stay over traditional hotels.Diversification for Investors: STRs provide real estate investors with an additional income stream, especially if they own properties in tourist-heavy areas.Cons:Strict Regulations and Higher Fees: San Antonio recently updated its STR regulations.

I would chalk situations like this up to the cost of doing business when the security doesn't cover the damage unless it's exorbitant.

It's highly unlikely that you'll find something like this, and if you do, the max loan is likely to be no more than the value of the land minus any demo costs.

I believe they passed a law a few years ago in OK you had to be an agent to wholesale but from what I can see that law is pretty well ignored.