. $5,000 is still pretty cheap for land though unless the land was bought long ago.

Not all that glitters is gold, Pony Boy.I would stick to what's working, first and foremost.

If you are trying to buy a $ 1 million home, and they bought it 20 years ago for $250,000, it’s likely they have a whole lot more wiggle room – and less price sensitivity – than someone who paid $1.2 million for it last year.

I took a small private loan and bought my first home.

Bought a triplex in 2011 with all cash in my retirement account.

They bought it and held it, come hell or high water.

Here is my timeline:Dec 2021: Bought a fresh canal lot Dec 2021: Signed contract with DeltaJan 2022: Permit appliedJuly 2022: Permit approvedAug 2022: Mono slab process started (lot scrapped)Jan 2023: Mono slab poured and inspection passed@Eric Winkler nice to be connected again.

My first house had a tenant in it when I bought the house and they just up and left and left the house in rough shape.

Note, I am not looking for a syndicate to BRRR or rent of some sort.Experience: I have personally bought an old home on a 8,000 sq ft lot, rezoned it to two 4,000 sq ft lots with a family member.

Seller is the Agent.Seller bought property in January of 2023 for $730,000Current “As Is” Value : $770,000Target Acquisition Price: $730,000-$780,000 After Repaired Value: $900,000Repair Estimate: $120,000Initial Offer Amount: $715,000Loan Program: Bank Statement Program.Total Estimated Monthly Payments (Principal, Interest, Taxes, and Insurance) $5500/month (based on $770k purchase price)Estimated Gross Yearly Income from Short Term Rental: $160,000 (65% Occupancy, $700 a night| (STR Listing Comparable properties Listing 1 Listing 2 Listing 3)Net Monthly Income after management and taxes: $11,751.25Net Monthly Income after Mortgage Payments: $6251.25 ($75,015) Per YearTotal Cash Investment: $297,000 ($177,000 in down payment and closing costs and $120,000 in repairs)Average Yearly Return on Investment: 25% yearlyAverage increase in property value per year: 5%Average increase in booking revenue per year 7.5%Property Value average after 10 years: $1.5 millionTotal Cash received over 10 years: $1.3 million.Total Equity multiple min over 10 years: 6x total return on $297,000 invested.