I detail here how my first flip essentially bankrupted me which resulted in this house losing money as well.It’s easy to blame others for all that went wrong.

I like your post and you obviously know Chicago but a lot of what you are saying is just plain wrong.

Quote from @Devin James: Quote from @Dominic Mazzarella: Quote from @Devin James: Everything went wrong with this investment:   - Took 4 months longer than expected   - Cost $10K more to build than we anticipated   - Sold for $20K less than we anticipatedWe still profited with a 30% return on equityThis is why I love Real Estate InvestingWhen you do your diligence and stay conservative with your numbers, it takes something really bad to lose money.Here was the original post:My siblings and I are building a home in North Port, FL.Here are the numbers: - Finished Home Value: $412Kish - Land Cost: $19,750.39 - Construction & Permitting Costs: $304,897Additional costs: - Environmental Site Assessment - General Liability Insurance - Builders Risk Insurance - Construction FinancingWe will be listing the home this weekPhotos coming soon!! 

The town is encouraging home ownership, so buying a condo/single, living in it for a year plus and then renting out works fine here (what I did), whilst house hacking a multi is more complex.

Before seasoning period ends, I want to sell to my younger brother who purchases with conventional mortgage.Is there anything wrong with this idea?  

But maybe you can prove me wrong!

And when things go wrong, they go terribly wrong.

Wrong Property Management ApproachIt doesn’t matter how good the people who are doing the property management are, if they are not using a property management approach designed for co-living, everyone loses.  

Even with 10% down you’re “hoping” that’s all you lose if it all goes wrong. 

@Khyree RandallIt's definitely frustrating in competitive markets like Sacramento, but you’re not necessarily doing anything wrong!