This approach can lead to overestimation of available funds and significant financial setbacks.To avoid this perilous trap, it is crucial for experienced real estate investors to raise more capital than they initially believe they require, especially as it relates to renovations.

Of course, this is a simplified scenario, and it's crucial to factor in additional costs such as HOA fees, taxes, insurance premiums, and other potential expenses like SID/LID or master plan fees.

A review with someone familiar with how seller financing works in your state would be a great idea as you never want to miss a small crucial detail.

As a licensed real estate agent with considerable experience, I have been actively involved in the Orange County, California area.Throughout the past few months, I have actively engaged with the BP podcast and explored their website extensively.

We celebrate the pursuit of education as a crucial step toward achieving financial independence through real estate investing.● Empowering Yourself through Education: Real estate demands an understanding of trends, valuation, financing, and legalities.

The most crucial is GC and PM. 

I would second that, also Orange County doesn't allow short term rentals either.  

Try looking up in Deltona, Orange City, Sanford, etc.

Most people fail in the business for missing those two crucial things.  

Needless to say, accurately assessing deals is crucial to be successful in this industry.