This has happened multiple times in my experience.Anyone "can" do unpermitted renovations, but it's an idiotic strategy for anyone who wants to make the most on their house later no matter the percentage chance you get caught or not.

What types of properties and strategies are you thinking about? 

I've discovered Madison, Morgan, and Limestone counties are the place to be in depending on your exit strategy. 

We're already starting see more of the sideline private equity entering the market again which will help rates.To pick the right market, you need clarity on your strategy. 

A friend of mine is good at walking people thru different investment strategies, especially around marketing and AI.

The buy and hold strategy has shifted more to an equity play rather than the cash flow play we have all been taught and love. 

Our target customer is/was families visiting national parks because that's who we are and we know how to kill it with that crowd.

Tenants are tenants customers are customers.

There are far more important items you should be prioritizing but first so I am clear on the strategy, it sounds like the business plan is to go under contract, renovate the building and then purchase the building once renovated and stabilized?

. - us accountants love hearing what everyone's else's friends are doing for tax strategies haha zoom hours with other investors definitely does not count.