The reason is simple - the US economy is a force of nature even during downturns and for the time being (decades not years) our economy will depend heavily on oil and gas.

It is not something to be entered into lightly since it is complex, but if your hire the right professionals, it is definitely doable and the upside is much higher than what you see with purchasing a house that is already constructed, not to mention the ability to tailor the home to your desired buyer or renter profile.

My advice is to tread very lightly.

Tile backsplash, floors, lighting, full bathrooms, cabinet pulls, etc. 

Hope your friend is safe as well, Nashville's been getting worked by mother nature, covid and now the riots.

I was light on cash with all the deals I had going on at the time but knew this was too good of a deal to pass on.

She mostly ignores me when I run around talking about ROI and cash on cash returns but has found that she's a natural for property management.

As stated, using other's money is a huge responsibility and shouldn't be taken lightly.

Lenders, you may be able to shed some light on this, what I cannot understand is how a $500,000 multifamily property with secured leases and history of positive cash flow is so much "riskier" than a single family home of $500,000.

Small and light and generally enough saw for anything except real large projects. - repeat the love for the oscillating tool.