In terms of mitigating your risk - particularly if you buy a condo - consider a newer building, steel or masonry construction, a unit on Floor 3 or above where Flood insurance wouldn't be necessary, larger buildings where costs are spread amongst more owners, and buildings with a financially healthy HOA (track record of good management, reserves in the budget to cover large capital expenditures, etc).

Prime recreational land costs $$$ but burned, scarred and neglected land that is hard to access can be found for a reasonable price.

@Marc Possoff looks like you asked for comps but are you looking for comps or are you looking for estimate on rehab work.You may want to get some bids from contractors if you are looking for rehab cost.

Building positive relationships with neighbors and local authorities can support your venture and help mitigate potential conflicts.Financial Considerations: Evaluate the potential costs and revenue associated with renting out camping areas on your land.

I personally would transfer it through a title company - costs about $150.

Here’s how it worked: Private money, which comes from individual investors, and hard money, from professional lending institutions, covered all the costs.

They build in so much into the purchase price to give the buyer "closing cost credits" that it basically makes comepeting impossible.

So, at that point, my housing cost will be zero and my food cost will be zero.

.- rentals do not go under an S-corp, which is why a separate PM company was suggested- S-corp technique on reducing SE tax is both tricky and costly, and you cannot set up your salary arbitrarily- you can only base your 401k on the part that IS subject to SE tax- you usually cannot generate enough "earned income" from this 2-companies setup to make it worthwhile for 401kSee, it is not simple.

Ideally to really keep everything separate you'll want to just have your LLC, and not your name, on it and that'd likely require a novation or a new policy(full cost of title insurance paid again).