Just made an offer on one earlier in the month but it fell through so I may hold off until later in the year / early next year to catch the beginning of prime season vs mid season. 

this is why investors should try to achieve paid for real estate  small number of grade b or A homes leads to the lifestyle pretty much everyone on BP wants.. no work and cash flow :)  Good job Bill

I'd recommend periodically visually inspecting the water drainage flow every so often and advising future tennants that the a/c drains there, therefore please make sure that that sink drains very well at all times and notify you asap if it does not.  

We just finished a renovation project that we started in our name and put into an LLC half way through. 

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

It seems the offset between the reduction in value of your current homes parcel coupled with the equity from the new home, you are adding less than $100K of equity to go through a variance and then build a home.

The truth is, you could read 100 books and still not know enough because certain things need to be learned through trial-and-error.

@Lucas Hunt50/50 is not uncommon - but also partners breaking up is also highly likely so what I would recommend is in the company operating agreement or in some type of agreement make sure you went through all the what ifs that could happen and how they would be resolvedIt’s a lot better to resolve them now versus when their is a dispute

And I am half way through the 2 books I mentioned!

What he wrote here indicates he actually doesnt have any background in financial analysis, and doesnt understand that the cash flow, or cap rates are a reflection of the risk.