Rents are anticipated to be 2250/mo so it fits nicely with the 1% rule. 

Fire rating, mechanical equipment and materials often change and are more expensive.

Days on Market (DOM) since Q3 of last year.Single-family residence values continue rising and are selling for nearly 9% more than last year - National average for home sale price increases is 4% since last year per one of BP's most recent podcasts.Multifamily properties in Queens have sold for a median price nearly 6% above last year, jumping from $1,058,000 in Q3 '24 to $1,120,000 in 2024.Lastly, despite inventory increases, the # of sold properties has declined when compared to last year.

On the other hand, a home equity loan gives you a lump sum with fixed payments, which is more predictable and great for one-time expenses like consolidating debt or buying a rental.

I would love to connect with other developers and builders in Florida on BiggerPockets!

I know several who invested in my fund with a LLC and regret it because they close the LLC because I just costs them more money every year and to transfer it back into their personal name is additional paperwork and costs to transfer.

I was looking at newer builds with unfinished basements that could be profitable with forced appreciation.

I agree with this 100%.

Expenses that don’t go up as fast take less of a bite as the ARV increases, leaving more room to (slightly) increase the purchase price plus rehab limit to 75% of ARV.We use this rule of thumb for screening, but always create a spreadsheet to estimate all expenses and run a P&L in detail for comparison.

Can't speak to the organization in Michigan but generally the benefits of a well run STRA far outweigh the costs.I am a property manager in Hawaii so we are constantly being hit with new anti-STR legislation and have a large, well-funded hotel lobby to deal with constantly.