Quote from @Shane Cordrey: Quote from @Mitch Messer: Quote from @Shane Cordrey: Im a new investor trying to get into multifamily property investing and long term rentals.Welcome, Shane!

Quote from @Steven M.: Thanks for the replies I totally understand you can not eliminate risk 100%I was just wondering if there was a safer way to handle this. 

Quote from @Bruce Woodruff: Quote from @Kevin Sobilo: Also, a contractor may not be the best person to develop your scope of work! 

I bought my first property in North Jersey at the peak of the 2006 market - came to the closing with no money and walked away with $10,000, still own the home to this day - and it's still possible do near this today - so, it can be done with $50K or less (doesn't mean you should do it that way...) 

This is tough to answer based on the information we have.

My biggest piece of advice is to learn to "get comfortable being uncomfortable"!

Interested in networking and learning more about multifamily investing.  

.#2 Keep an eye on interest rates based on what the loan officers proposes. 

Network for collaboration, learn from successful investors, and discuss ROI and financing techniques for meaningful conversations with Houston investors.Good Luck!

I had the same lessons learned from BRRRR's and flips I've done in the past: they almost always go over time and over budget!