As a builder, I target about 15-20% profit per build ($500k-800k price range, low-mid in my area).

Those that preach no/low down payments are mostly just trying to appeal to the masses who want everything for nothing that will buy their courses.

now if you could get a seller to be the bank I get that you could smoke and mirror those deals.. but i would think those would be picked over low value or properties in the worst areas of town etc..   

They are a commodity, and owners are competing directly against hotels in this space, so rents are ultra low.

He scaled with quality, going full-on luxury top-shelf.

It depends on your financial strength, the quality of the property, how many properties you own, etc.I like to start with one significant expense and three months of vacancy.

The exchange must also be for like kind and quality.

Conversely, a new built A class SFR, in A class market of significant growth via a well laid out planned city development, great schools, area people are glamouring to move to, a-class tenants, very very low risk.

If he must attempt to get the low interest rates of 2021 on this deal, I suggest that he instead look for assumable loans.

I find the savings from not needing to add chlorine is instead spent on chlorinators.I would not use salt for an only a spa because the chlorine use is so low.