Understanding the local market, construction costs and legal regulations will be crucial to your success.

We transfered ours to our living trust directly - not worried about asset protection honestly because we have insurance and a property manager.

They are doing other construction stuff around the house that does not need permits and the quality of work is lacking in some areas.

Second home occupancy loans cannot be leased nor subject to a property management agreement.

Newer construction is required to meet STC ratings.

If you are going to self manage it might be a little better, like 10% instead of 20% off, but better to be conservative if you need cash flow.

It will be a new asset with little to no cap ex, and lower expenses.With an apartment, if you buy an existing building, you will cash flow day one, but there are other concerns, such as age, property management, debt, exit strategy.It depends upon your goals with the money, if you're trying to create income, or if you're trying to go into the business full time.Gino

@Vanessa SwitzlerOut west Reno, NV is landlord friendly, tech and manufacturing job growth, 4th lowest property taxes, good weather, and geographically limited new construction.

conversions can be more expensive than new construction sometimes. maybe they can do a studio conversion as a start and make it smaller. there are a ton of strategies and structures but start by studying the market for 2 family properties and getting to know the miami zoning codes. you are the expert not them. ask for compensation 

Does anyone have a bank that loves new construction spec, makes it easy, and has good terms?