I have successfully defended multiple clients in this situation.Once again: Don is claiming his deduction correctly, and I am breaking the rules.

Even though your market might prove expensive, I would exhaust all options before ruling it out.Truth is, you have a unique competitive advantage in your market.  

A good rule of thumb is to have at least $5 to $10K in reserves per unit to cover these situations and avoid financial strain.Thank you for the reply and help!

Here’s what CCC looks like when applied to large multifamily properties:Key Elements of CCC1.

My logic behind a area to hold is basically is in my zone of knowledge that means close in and in a  A-B area .BIG fish can have the whole USA in their  zone .Outside of my zone I am thinking flip it there are exceptions like all rules . 

Keep in mind we are a "Mega PM", big staff big unit count, so it's a lot different then the Ma & Pa, but the principles can apply.

Another note on construction cost, going vertical is very expensive now and would require have a great connect with a developer and a builder in the area.See what rents are in the area and run the numbers to ensure the rents will cover your costs and give you a solid return—using the 1% rule can help.

Quote from @Cody Caswell: Quote from @Jay Hurst: Quote from @Cody Caswell: Is it true you can use taxes, depreciation, insurance, and mortgage interest for qualifying income when applying for an FHA loan on a primary residence? 

If a wholesaler can still profit while provided “full disclosure” and adhering to the rules and regulations of real estate licensees then they’ve earned their profit.   

Life it too short to teach people that won't follow through...or to spend money learning stuff that you won't apply.