I know that this is a big risk property but I believe that it has the potential for high return if I can get all of this permitting and renovation work figured out on the front end.I'm just looking for any advice on how to cover myself on the front end prior to making an offer and how to expedite the work so that I can get renters in and start recouping on the investment as soon as possible.

If what we are feeling is accurate, the January data should show substantial increase in buyer demand.Jan 1, 2020 to Jan 1, 2025 InventoryWhile interest rates remain high, the demand from buyers is still strong.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

I think its a scary feeling, like the cost of entry is too high.

My main concern is the interest rates being so high now as to whether what I'm hoping to achieve is really even possible. 

These qualities are far more valuable than the numbers in your bank account.7.Set clear goals.

If one is way too high or way too low I think its a red flag. 

I highly recommend interviewing multiple contractors and ask them for references. 

I’m targeting assets between 25-100 units located in high-growth markets that exhibit strong fundamentals.

This is also why the amount of cash you need is 40% of the loan amount - the closing costs are disproportionately high compared to the loan amount because it's a small loan.