Put the capital in a low-risk instrument (CD, t-bill) that will preserve as much capital as possible even while making your mandatory (5%?)

The deal makes sense financially however the house is in a flood zone A and flooded during this past hurricane season.

If you believe you will be financially ready to build a year from now, perhaps you enter into a lengthier contract where you can obtain all of your building approvals and then settle at a later date.

Prioritize your financial stability.

@Greg StrunakA good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

Cutting our losses and selling was difficult, but it was the best option given our financial woes.I’d love to hear from others—has anyone else faced something this unexpected during a BRRRR or flip?

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A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.I would also recommend looking for a accountant willing to work with you throughout the year.

This gives you a foothold in the market without overextending financially, and you can always explore other investments later.If you can find a multifamily property in Asheville, that’s an even better house hack.

Prioritize your financial stability.