Thus, continuing to drive up home prices in a market with tight inventory.Rents will continue to rise along with the cost of housing, thus attracting investors.hard money charges 12%-15% for flips.

I would remodel this to a high standard with really nice finishes to attract better tenants.I am buying it sight unseen and I am a little hesitant about the area.It's on NW 45th St, Miami.The purchase price per square foot is a mere $65, which is well below the current market average, even for the area.Are there any Miami locals who could chirp in with their opinion on this one?

We would mainly rent it out during peak seasons and then use it as a vacation home for myself.

I'm assuming that the land will hold no value since it's already captured in the main house on the property.

I mainly plan to use my license to give my family and I more speedy and detailed access to available properties and cut our costs on rehab & flip houses. 

I would rather buy a good asset with fewer units that attract better tenants then buy a fair asset with tons of units that attract difficult tenants.

Shortly after purchasing our second investment property I opened up a construction business and ran a successful business for five years.our main focus was high-end kitchen and bath remodels.  

There are 2 main reasons for this:It allows the investor to cash flow more profits to use on things right now. - so if they wanted to reinvest the profits into another property or use that money for another purpose. 

Will there be a meetup site or is BP the main reminder?

Bryan,Here are the 3 main options to consider:1) Custodial self-directed IRA, lower upfront cost but watch out for transaction and asset based fees, have to go through custodian for every transaction, might be inconvenient for certain investments. 2) Checkbook IRA (aka Checkbook IRA), eliminate transaction fees, higher upfront cost because of special purpose LLC, but long term will provide savings and most importantly a convenience of having checkbook control over your retirement assets. 3) Truly self-directed Solo 401k, requires self-employment activity or small business, the best option if you qualify.