I was able to get comfortable with the debt & leverage on this deal but I realize that is not for everybody.

Rents have increased exponentially and disproportionately in relation to income growth so that will be an issue moving forward especially right given the current environment.

If you feel comfortable sharing your website I can take a look and give some advice. 

Not only will you need to be comfortable owning the property but you better have a great team in place depending on how you decide to exit.

My goal is for investment while having a comfortable home for at least 1-3 years. 

I informed them that the tenant needs a more structured environment and supervision then I as a property manager are trained or licensed to provide.   

Overleveraging newer investors in a vulnerable and unstable capital markets environment! 

LTC on construction loans is much more favorable than commercial purchase loans, and usually have the better rates and terms as well…obviously banks prefers new construction.The con’s:The speed in which I start to receive a return is slower than if I were to buy a building that was leased already.The number of steps and base of knowledge needed for a new build is much higher than buying a built and leased property.Leasing a new build, especially in our new environment, may be a slow process, which could be costly.All in all, I have decided to take on new construction projects going forward.

@Nicklaus McCain first, at this point of the market environment please keep in mind that rent increase may not be possible in the next 3-6 or even 2 months.There is a wide range of ways you can reduce expenses apart from the ones you mentioned above.One of the easiest ways is to shop around for better quotes for Insurance and contract services.

It's a new problem as I am very comfortable with my Memphis team.