Hello, I am seeing some distressed properties being scheduled for auction at low(for NYC) prices.

Not too low either, you don't want to go with someone who is just focused on price as this is a quality of a not-so-great accountant.

I was able to quit my job to focus on real estate full time but this is only because my wife and I have a strict budget and keep our expenses very low.

By way of example, 9.5% is going to be the low end for construction financing.

I can't really afford to pay capital gains on 1/2 the value when I'm not really selling the property and getting any funds..

This place has great potential to be renovated into a unique, boutique motel.How do I go about forecasting financials and exploring funding? 

in summary all condo/HOA are bad investment except :- if they are located in prestigious location and/or neighborhood- they are relatively new so maintenance cost is low and predictable- they located in the market where DOM for condo is less than 10- they are located in the best school district- or they're located for resort zone/holiday zone.

- What should the desirable mortgage/rent ratio be for my properties- Should I begin saving up an emergency fund for repairs and maintenance before I actually purchase a property or should I begin doing that once I own a property- Do you think Louisville, KY would be a good location to stick with, or should I look for a new areaThanks in advance for your suggestions!

By the end of September, I will have 25k saved up to use on a property (outside of my personal emergency fund of course).

There is also one decision-maker: the fund manager.The downside is the fund manager has to get paid, so that’s a point of friction on your return.