This way it’s no up front out of pocket expense for me and they then have the extra money to spend as they need it.

So that $100k+ ED is coming from your pocket, before it can be reimbursed by investors.Legal Fees: you can't raise money without legal contracts setup.  

Quote from @Devin James: Quote from @Justin Stamper: land entitlement is a great move in florida. just gotta have deep pockets to play!

     * House is a 2699 sq/ft Single Family Residence| 3 beds, 3 bathroom | Built in 1956 | NO HOA     * There is a chance I could pay only interests so I can start saving some cash for the incoming maintenance and annual payment equivalent to the 12 monthly payments (~$5,029.77 per year during the balloon period)The advantages I can identify in this deal for me are:* Lower interest compared with traditional loans* Lower down payment compared with the ones compared for traditional loans* House is technically ready to be rented (waiting for the inspection) * Forecast - 3 yr growth (appreciation) is expected to be 8.1 % (Bigger Pockets)The disadvantages I can identify: * I am still vulnerable to foreclosure if sellers don't make mortgage payments to the bank.* Refinancing issues at the end of the Balloon Payment?

I'm writing this in December 2024, when every other question asked on the Bigger Pockets tax forum is about STRs.

Sometimes, just knowing the rigth people...whether that’s sharp-minded agents who see a gem before it’s polished or a reliable contractor who’s not going to vanish mid-renovation...can make all the difference.If I had to do it all over again with $80K in my pocket, I’d jump on that first multifamily, rent it out, and let the tenants’ checks pay off the mortgage month after month.

Oh, and that person is probably authorizing checks from a business account with much deeper pockets than any traveling medical professional.

@Samantha SueroWelcome to Bigger Pockets.

Meetup.com is a good resource for those but some of the groups will also post here on Bigger Pockets Marketplace too.

House hacking a multi-unit is the best way to get started since you’re, if done right, paying minimal to potentially no monthly payment out of your pocket.