We plan to learn from everyone and meet all the goals we've laid out! 

Lessons learned?

every person who builds a house or a commercial building has to do so with 25% equity to get it financed with a bank. there is absolutely value in new construction. the hard part becomes making sure your architect knows how to design a building that can make money. but saying you don't know how to is a little silly it's the same idea as existing but ground up you just study the market and look at land more than you do anything else. you can build a house anywhere but you want to do it in better areas. it's either than or higher density's smaller floorplans, etc 

How did you find this deal and What are a few things you learned from this one? 

Renting for $1300 per month with a $450 a month cashflow after expenses of Prop Mgr, lot rent($550) insurance and separate account for repairsLessons learned?

This would be both a risk mitigation strategy as well as a bite size learning opportunity as I intent to manage close to all aspects of these for at least the short term (want to be an expert in the day-to-day operations before hiring this work out). 

Lessons learned?

I'll be doing this under an LLC and I'm not sure if my personal debt to income ratio will affect the purchase or if the LLC is considered to have its own debt to income ratio.

I personally would never invest money in an area that I didn't know, with people I didn't know, in a business I knew nothing about.

Excited to learn and connect with you all!