I agree the next sentence goes on to address a current owner that may already have more than three, which seems redundant in light of the first statement...but the way it is written the plain reading is that three maximum in the entire development applies...The subsequent statement about three per owner only applies to current owners at the time of this being passed...it's an additional stipulation in light of the fact that some owners at the time of passage may have already been in exceedance of that requirement.

For brand new areas, how would you recommend going about getting those referrals?

I am brand new to major rehab investing and I am looking to learn under someone who has gone through the process. 

Initially we decided we were going to do a 3-4 BR rental (with my brother in law as a partner to help with the DP), but I’m wondering if it’s better to do a 1-2 BR and do it solo, if the net cash flow will be almost the same at a lower purchase price?

It’s remarkable that the Austin metro’s pricing is nearly 40% higher than it was last year:Despite the incredible YoY increase in prices, the decline in closed and pending sales compared to this time last year suggest, in light of the previous month’s numbers, that the market has found a stabilization point and may be reverting to its more predictable seasonal behavior.

And good lighting is important.Many basements have high humidity so it's better to stay away from carpet and go with vinyl plank or another flooring that won't get moldy or musty smelling. 

Our last 5 properties, we didn't even have pictures, before we had a contract between $6,500-$7,500/monthly.Folks look at the website, trust the brand, and reserve - period.Don't get me wrong, it's WORK to advertise/market, chase contracts, and maintain these relationships, but the profits are ridiculous.

Can any NJ builders shed some light on this requirement and how I would even provide it as I’m not a licensed contractor.Thanks!

New paint, ceiling fans swapped for light fixtures, and TLC to the bathroom; especially the rental..plus much much more.

Purchase price: $36,000 Cash invested: $18,000 Sale price: $88,000 Light remodel including flooring, paint, and complete kitchen.