We are based in Tampa, FL and are sick of the god-awful heat and influx of luxury apartment construction.

I am a bit hesitant to buy in a rental knowing that the value of homes may stabalize or begin to go back down soon.I would be willing to wait on a new construction to complete.

Hi BP Family,If I were to purchase a plot of land zoned for multifamily and then build a duplex, will the bank require a cash closing on the land and then a construction loan to build?

We'd like to make some money as the house we're looking at has good bones, but looks like the 70s walking in. 

That's why I came here to get some feedback on it- we are still constructing our deal and the details of that deal.

If you have construction knowledge, that may be a plus for a value-add deal.Without any capital or experience, it is going to be hard to lock up a property, so my advice is to partner with someone.We do this occasionally with talented individuals who want to add value to the sponsorship.

One thing that I haven't done yet but I think will be beneficial for me is hopping in a plane for a few hours and flying a predetermined path noting new growth, infrastructure construction etc.

He works on residential, commercial, new construction and rehabs.  

Unless you have some experience with construction or real estate, I would probably stay away from flips in Dallas for your first investment.Basically whatever budget you have and however long you plan on the project taking, double both.  

I’ve been involved a couple of construction related suits, it’s never fun, and you’re not likely to be happy with the outcome.