HOAs can also enact rules restricting rentals - many of them don't allow any type of short-term rentals (if you were considering AirBnb).  

I started around 15 years ago, own 60+ doors, manage 700 and have an in house construction team with 30 employees.   

@Mitch Wittman@Tim BuckinghamHere are the general considerations regarding 401k loans.401k Participant LoansIf your 401k plan allows for 401k participant loans, the maximum loan amount is equal to 50% of the balance up to $50k.

@Jerry VelezOne thing to remember when you are getting into RE investing is to have your team of people or as Brandon Turner from the Bigger Pockets Podcast calls it your CORE 41.

I’m surprised Bigger pockets allows this company to advertise to their members.

STR's are a different beast entirely, whether professionally managed or not, but they do allow for an easier/quicker exit than traditional commercial such as retail, office, warehouse, or multi-family.

i'm wondering if we're "doing something wrong" here. we have a strong RE agent and attorney team. they do everything they can; maximum exposure, covering our a**ses, etc... and deals keep falling through.it's a very nice (subjective, i know) piece of land (1 acre) in residential chicagoland.does anybody have any tips to get it sold?

Appreciate any insights relative to safety, crime, schools, family friendly, etc. thank you BP team. 

This allows you to adjust your budget as you go, based on actual costs incurred in earlier stages.Given the specifics of the property and the ARV, your $60k estimate might be in the ballpark, but it's essential to validate this with as much local input and professional advice as you can gather.

Quote from @Michael Smythe: @Alex Rivera Jr. look into FHA 203(k) which allows you finance repairs when you purchase.Then you can look at fixer-uppers that have less competition to buy => lower price!