I'd never buy a development unless I was confident in the valuation and there was data to back the feasibility of the build. having preliminary approval is very different than permit ready where you can put a shovel in the ground day one.

Fix it up, rent for a year or two until it pops, than sell and take profits to buy a couple of the same type deals.

Hi Kim,I came across your post because I'm looking for the same. 

I live in Florida as well, and a typical duplex these days is probably at least $250,000 in Central Florida.  

The day I closed the tenant was moving in.

It seems hard to find any property these days that will meet the 1% cash flow rule in the US, so financing at 6-7% and not cash flowing doesn't appeal to us as a strategy - but is there something we're missing here where we should definitely lever up?

I hope you're enjoying this heat wave along with the sunny days!

I'm currently evaluating a potential mobile home park, while small (10 lots total) it does have a single family home on the same property.

Hey Tyler, speaking as someone who invests heavily in Detroit and helps others do the same... it is far from saturated.The sentiment around Detroit has finally moved from grossly negative to neutral.

Most DSCR lenders have a minimum of 90 days seasoning to cash out on the new appraised value which makes it attractive for BRRRRR investors.