we ran into this in FLA  a few years back when I had 4 starts and I exited that market.. permits  sub base all pretty tough for someone who is not there and already knows the systems hands down and has a devoted loyal sub base.. thats the key in my mind.

Great investment, a lot of learning, and a good ROI Lessons learned?

We are based in NYC but are considering (as of now) locations outside of NY but within a 300 mile radius. 

I am interested in learning about investing in real estate, especially fix and flips and the BRRR method, using my rehab knowledge and my guys on slower days to build equity.  

You state that you have 20% - 25% equity position for safety, but you don't based on the information you gave. 

Plus, if you aren't able to get approved with what you've got now in terms of savings, credit, etc. you can learn on what you need to qualify so you know what to be working towards. 

I am learning a lot about real estate and want to purchase a rental property in my area.

We’re focusing more on quick flips that match our strengths and allow us to continue delivering value to the community.This post is a reminder that every project teaches us something, and we’re always learning to better serve our buyers and sellers.

I am new to real estate investing and BP, and I am excited to learn more about this space!

It varies a lot and depends on the vintage of the property and your tenant base.