I am forever grateful for my new PMs for turning my portfolio around.

Sometimes it can be cheaper to build than it is to buy existing however in most areas of the country right now it will take you minimum three years to develop a project and ground up get it to stabilization so you need to consider the time factor.

The only time it would make sense is if speed is a factor - meaning you can get an amazing deal on the property but must close super quickly - something most banks simply cannot do. 

Which brings me to my ultimate point.The BRRRR method is dependent on many factors, but the single most important factor is the rent you can achieve.

The latter will allow you to hit the ground running once you decide to actively pursue properties which could be a major determining factor in landing a deal in an area you desire.

Condo fees, taxes, vacancy factor, CAPEX, repairs. 1%  rule this property should be no more than $135000.  50% rule that half the income is expenses so $675 would be your net.

These are actually key factors why we choose to live in that area.

I rent in a college town and typically have a waiting list for people to get into my properties so I never factor in vacancy issues either. 

Employment status, amount of funds, geography, age, investment strategy, and a variety of other factors will inform your decision.A checkbook plan in either the IRA or 401(k) framework will generally provide advantages over the services of a 3rd party custodian.

Thanks Walter for the awesome advice...I am starting to spread the word to family and friends that soon I will be a licensed agent, and looking for events in my city to attend like our local Business Summit coming up soon in May.