Hello everyone,I'm new to this community and currently based in Madison, WI, where I plan to invest.

So what's your next actionable step and when do you plan on having it done? 

Be careful about "numbers [that] look to good" especially in rust belt markets.

We will end up having to complete more of the labor on this project ourselves than planned and we will be fortunate to finish this one without being in the RED.

Particularly in Philadelphia where there’s a ton of red tape to navigate and construction costs are disproportionately high relative to other markets.Ten years ago I could walk into a district L&I office, complete a two page application and pick up a building permit without plans for a single family renovation the next day.

I'm not planning to house hack, just for investment purpose.

Most likely you need to speak with the planning department and they'll tell you if it's allowed.

I plan on getting my realtors license and flipping/ investing into properties.

I have a plan and I'm not sure if I'm going to the right direction.

For landlords, lease options can attract tenants who are committed to the property and may take better care of it.Commercial Property Considerations: When considering a lease option for a commercial property in Texas, ensure that:The terms of both the lease and the option agreement are clearly defined and legally binding.Both parties understand their rights and obligations, including maintenance responsibilities, payment terms, and conditions for exercising the option.Consult with a real estate attorney to draft or review the lease option agreement to protect your interests.Here are some things that may help you form a pros and cons list going forward:Advantages:Potential for higher rental income due to the option premium paid by the tenant.Attracts long-term tenants who may eventually purchase the property.Allows flexibility for both parties in uncertain market conditions.Considerations:Ensure the option fee and terms are fair and reflect the property's market value.Understand the financial implications and tax considerations associated with lease options.Be clear about the tenant's ability to exercise the option, including financing requirements if they decide to purchase.Lease options can be a viable strategy for commercial properties in Texas, offering flexibility and potential benefits for both landlords and tenants.