Also, you can't know how the cost of materials could fluctuate over your project time, so consider purchasing any materials upfront so you can stick to your budget. 

Either way I wouldn't do one in your area that wasn't driven into the ground.

You have material information that effects the desirability and value of the property.

Quote from @Mike Levene: contractors should give exact quotes, come in give you a full detailed list of how much it will be to cost for labor and materials broken down.

Interest Rates: Current spreads, rate structure, buydowns, mission driven business, factors that influence your rate, etc.5.

Get something durable in a color that does not stain easy and a material that can be scotchguarded and you will be good for several years.

Pretend your getting the hardest rain you have ever seen and imagine where the water is going.I would also keep an eye out for sewer lines and type of material.

@Scott Trench - have you considered investing in short term rentals, materially participating, and having the average stay be less than 7 days?

I’m still exploring different areas, but I’ve driven around and looked at properties near Grove Park, Westside Park, and Decatur.

Biggest things you’ll want your cpa to guide you through;Material participation- there’s three tests; 500 hours; 100 hours and more than anyone else’s time, and substantially all the activity.