Good luck and congratulations on taking action!

is that correct.. then your taking on pretty big risks regardless of accrued interest or not.

It's a 4br/2.5ba 1700sqft Usonian style home with a great view (sorry, can't give away the location just yet!). 

Take a second and be proud of yourself.

@Ethan GidcumbLenders will not and here is whyTake a $200k property needing $150k renovation and arc is $400kLet’s say lender will lend $325k - they are not giving it at closing - there will be construction draws as I have seen borrowers take money to use on other projects and then lender is stuck holding the bag until he sues on the guaranty and goes after the borrower

I believe my experience in the market can be valuable for both buyers and sellers, but I'm also eager to learn more about building a strong real estate investment portfolio.I'm particularly interested in BRRRR strategy, short-term rentals, and multifamily investing.While I sleep, eat, and breathe real estate most of the time, I also enjoy sports (go Vols!)

I think I have the spot picked out, I am currently working with engineers, contractors and the county to get a better understand of the numbers it will take to make it happen. 

The city will require a few pictures of the apartment to make sure it is live-able and once a lease is signed and submitted to HRA, they will verify the applicants income, and it will take up to 10 business days for NYC HRA to write a check for the total amount of the 1 year lease. 

You could get a duplex in a B-C class neighborhood for 250k and take advantage of a hybrid mix of cash flow and appreciation. 

We've had some of them take units for longer periods and just stay there the 7 days that they're in town.