I’ve even seen a friend in Austin organize a simple field trip to another city..from what I’ve heard that kind of trip can spark interest in fresh markets.

simple - treat it like any other real estate closing. you go through attorneys and title companies. 

Strategic Purchase: Acquired a discounted double lot below market value with a $17k impact fee credit.Custom Design: Built a 6-bed, 5-bath home tailored for co-living or multi-gen use, maximizing tenant appeal.Efficient Management: Managed construction, and self-managed operations to minimize costs.Premium Marketing: Furnished the property and used multiple platforms to attract quality tenants quickly, achieving full occupancy.What was the outcome?

I am putting a laundry room (coin-operated) and storage units in the basement of my small multifamily.

It is a simple value add.Get the permit and enjoy an easy value add (assuming it is close to $8k).good luck

It’s entirely possible to operate with integrity, provide real value, and still earn a strong income.

This can be a great option if you don’t have the time or desire to deal with the day-to-day operations of managing a property.

Hopefully as the rates and the housing market loosens so will some of these guidelines in the HML programs. from talking to hard money funds especially those who operate in more than 10 states, and 5 years of experience with underwriting teams, I'd actually disagree and say new construction is preferred to rehab due to experience level to enter the market. there's BP lenders that will do 15% LTC with 1-2 new build experience.

A couple times we were able to collect but it was not as simple as make the claim and collect.  

That said, it could be a good choice if you’re capital constrained and need to recycle equity from deal to deal.However, if you have capital to deploy and want to take a more hands-off approach, targeting a turnkey, rent-ready offering could be a better approach for your first deal.Full disclosure: I own rentals and operate a turnkey provider in Tuscaloosa—let me know if there are any questions I can answer for you!