Hello Everyone,I recently bought a 3-unit investment property in Michigan and have plans to rent out one of the units to the sister of one of the neighbors.

This experience underscored the importance of vetting contractors thoroughly and having contingency plans in place.

I have allocated $250,000 in savings specifically for investments, aiming for a conservative down payment of 3.5% to 5%, depending on the deal and financing terms.I am planning a visit to Florida in June to scout properties and gain a deeper understanding of Tampa's neighborhoods, including the greater tampa area.

You will probably need to call the city or  county planning and zoning office and meet with their administrator.

These steps are learning, looking at the market, getting your money ready, picking your plan, getting a team, finding a place, checking it out, making an offer, and handling your investment.

If you plan to be more active and scrappy in your investing, there's always a way to make money.

My question is why you’re buying it as a primary in the first place if you just are planning to move right back into your current primary?  

It seemed like the best fit for me, i could just start fresh and put all my money towards vehicle payment and down payment savings.

Lack of Permits: Some flippers may skip obtaining the necessary permits to save time and money.

She or he is themselves an entrepreneur, perhaps their exit plan is to get the business up and running, and then sell it somewhere in that 5-10 year window.