There's always a chance the deal won't close, and you'll be the one who's out the most cash/effort if that's the case.If you really want to get started, I imagine you probably have at least a month or two of getting drawings, engineering, surveys, getting take-offs/bids, starting the permit process, etc.

It's easy to obtain, costs very little, and doesn't require additional, on-going effort to maintain.

You failed Bjorn, but it was a noble effort.

The question will come down to whether you think it's worth the effort for the $250 per month (before maintenance, any utilities, vacancies).

To @Ivan Barratt's point above: educating yourself on the various strategies is critical, so you don't jump into something with a wrong-fit partner/type/market, etc and find yourself down $200k.a few options come to mind: private lending ("be the bank")investing as a Limited Partner in a syndication (most options only open to Accredited investors)turnkey rental investing (granted, i think of this more as "semi-passive" since you still have to manage the property manager, requires a phone call or email every other month or so. at least, that's been our experience)you mentioned "no desire/skills to be come a landlord" and I think that's a reasonable expectation IF, you focus heavily on your skills that focus on the analysis and decisioning at the front-end. said simply: it's likely worth picking a strategy and then focusing your limited time/effort on developing the following: goal - have you set them?

You need to be compensated for the time, effort and risk of developing the property.

Hi @Owen Franks, hope you have been doing well amidst the current global challenges!

This may require you to up your price for the extra effort.

I’m a working stiff so don’t have much time to manage the construction efforts.

People get carried away at auction and end up paying more for a property than its actually worth especially if it looks like a great deal and not too much problem/efforts.