This approach would allow you to preserve capital for potential future investments or unexpected expenses.Property Valuation and Equity: Given the high property valuation in Los Angeles, it's understandable that pulling out equity for another property might be challenging in the short term.

By learning from the mistakes and oversights made during our journey, future home builders can embark on their projects with a clearer understanding of the potential challenges and how to navigate them successfully.Learn from the mistakes of others, it's cheaper and less stressful - Nick 

Hi thereFirst of all, I understand that a lender wants uninterrupted insurance coverage for any property they have a mortgage on.

Maybe some of you here who kept a day job but also generate income from investments can help me understands the basics of this.

without understanding your goals and current situation, the advice I'd give to most is to get started with low money down in your neck of the woods by house hacking and build from there. 

I'll give my advise based on my understanding of the sitution so hopefully, I understand it correctly: You bought an investment property with a structure (house) on it but which also includes an additional .34 acre lot next to it which is included in the deed and you now want to SPLIT the undeveloped .34 acre from your property and sell it sepearately, do I have that correctly? 

@Nikki Nicole You have a very understanding agent. 

Getting a good realtor who understands what you are doing, a good lender that gets you what you need when you need it, and a good rehab team (if you are doing rehab) is going to be pretty key. 

I understand the qualification criteria for REPS but have a slightly unique situation that I haven't found any answers for by searching...99% of my income is from my insurance agency that I solely own.

Being a realtor is a great start to understand the market and the industry!