I welcome the challenges, and bumps that come so I can learn more.Use conservative numbers in your estimates.Have a plan for when the sky really does fall.If you have none that can advise cheaper, buy some professional help, and perhaps use some of these people when you need the remodeling done!

Challenges?

Challenges?

Near Exton/West Chester A few Challenges i ran into:1.

They should have excellent negotiation skills, know how to solve problems and get through transaction challenges like a jedi master.  10.

If not, traditional commercial financing may be challenging. 

Hey @Jared Lomker you may run into some challenges on a 5 unit.

The challenge comes in the case of a 1031 exchange when you only have 45 days to identify a replacement property and 6 months to close. 

@Irving Garcia, I also live in San Diego and love to brainstorm and seek opportunity for a ground up new construction, which is fiercely competitive now days and challenging with an uptick in material cost and scarcity, but a firm believer of old saying “there is way when there is a Will”,,,, I knew of an opportunity in Old Del Mar, just the beginning of the year, that a house with 1,100 SF’ building on an approximately 9,000 SF’ land sold for $2.375m that after demolishing the building could build up to 4,000 SF’ and and potentially sell for $1800 per SF,, although very lengthy and challenging project going through city and coastal permits but at the end leaves respectable margins!

The biggest challenge is finding the right property management company to help you and stay on top of the things to get the best reviews for your property.