Lots of factors to look at depending on the investors goals, strategi, and capital.

The Mortgage would be around $3587/ month including insurance, taxes, Mortage insurance.

Here's a quick snapshot from the COVID outbreak of early 2020 to February 2024:Key TrendsCondo prices: 📈 65% since March 2020Single-family homes: 📈 75% since March 2020Rapid appreciation mostly in 2020, stable/slight gains sinceMarket resilience despite rising rates and insurance costsAI stock market-fueled wealth could drive more home purchasesMy Prediction:Prime single-family homes: Prices remain stable or increaseCondos: Flat unless truly distinctiveThe Big Question: Are YOU ready to buy or sell?

Finally, make sure you have insurance on the project / during the project. 

Hello BP community,Would love any feedback on getting an rental property insurance recommendations in NWA.

I would suggest taking out what's called a home equity line of credit and use it to invest in more real estate but make sure that you have a mentor that has done at least 100 times what you are planning to do and follow a strategy that works for you.

I would personally stay away from coastal cities with insurance costs and weather risks.

Some investors / flippers of very inexpensive vacant land do self-close, where the cost to close with a title company (most often requiring that you purchase title insurance, which comes with a minimum cost just for issuing a policy) approaches or exceeds the monetary value of the land. 

Also important to look into the licensing and insurance requirements to pull permits.

You can tap into the extensive networks of property managers, attorneys, and insurance agents to get them.