I'm seeing here that this is more of a site for investors, which were not necessarily interested in buying or building for an airbnb, we are very interested, however, in building a home that we will live in & then rent out or make our existing home in Kenosha Wisconsin which is on Lake Michigan an airbnb.We know NOTHING about buying a lot & then building.That said,  We have been trying to figure out how we get the most Bang for our buck buying existing property or building our own home.We have been seeing some amazing properties around 50K in Yucca Valley and/or 29 palms that list having water and electric available nearby.We want simple clean lines,  I suppose what would be considered modern contemporary but I hate putting that title on it because for some reason it seems like there's an upcharge just by using that description, lol...

We have never done one of these and i dont want to muck it up..Normally we do use our attorney and work with him to cover the leg work so costs are a bit lower... however hes moved on (away from SC)  And the replacement attorney is a little less attentive ( prob cause we have not closed 30 deals with him ..lol)  He is also not interested in helping out the buyer...

Moreover, should that roof need replaced, you again have access to the money for the project in the stored "equity" of the property itself.That would be a very safe start.

I brought a 8 unit that needs repairs or replacement of HVAC systems. would appreciate any recommendations in the triad area especially Thomasville.thank you

What if doors need to be replaced?

Minimal HOA.Assuming that rent, 20% down payment, 50% vacancy rate, the cash flow would not be super, but one of the main reasons for my interest in real estate in the immediate present is the effect in reducing our taxable income, rather than for providing replacement income.

It is so hard for me to hold back on not replacing something, just so it looks newer or more trendy (for example, swapping light fixtures and door knobs when the ones there might be okay .... or wanting to swap all switches and outlets to Decora when the standard ones already there just need to be cleaned real good). 

But I do believe they should replace the units before hand or drop the purchase price.

@Steve DudeckTwo requirements to avoid all tax….1) the price replacement property must be greater than the sold property(less actual selling costs)2) you must use All of the cash proceeds from the saleAny retained cash is “boot” and taxed.

The Replacment cost they threw out witch was a very big guess was around 750k.