I will be adding a loft in one of the bedrooms, pavers on the outside patio area to relax, grill and play games.

**OPERATING COST REALITY CHECK:**- Insurance: +29% YoY (coastal exposure + reinsurance crisis)- Maintenance: +24% (labor + materials)- Property Taxes: +22% (reassessments catching up)- Condo Fees: +45% since 2021 (SB 4-D structural compliance)**MARKET DYNAMICS:**- Luxury ($1M+): 10.2 months inventory, seeing 10% discounts- Single-family: 6.4 months, still climbing 4% annually- Condo/townhome: 12 months inventory (buyer's market forming)**CAP RATE SPREAD:**- Miami core (Brickell/Downtown): 4.7%- Suburban (Doral/Kendall/Homestead): 5.3%- 60bp spread = biggest arbitrage opportunity in years**INVESTOR BEHAVIOR SHIFT:**Seeing capital rotate from luxury spec plays → workforce housing with stable cash flow.

Both fill the gap between debt and common equity, but they play very different roles.Here’s how to think about it:Mezzanine financing is structured as debt.

Unfortunately the listing agent was playing games and we ended up withdrawing the offer because we no longer felt like we could trust the Seller or the listing agent.

Groups that move quickly on large land plays usually include experienced land developers, family offices, private equity real estate shops, or institutional-leaning partners who already have dry powder and a track record with entitlement risk.

[4]   The play ground and (speaking of food for thought) community garden.

At all cost, avoid heavy construction plays in lower cost markets.

The property is surrounded by commercial developments and apartment complexes, so it likely leans toward a commercial or redevelopment play.

Finding the right person for the job ensures that they can leverage their unique strengths to outdo the competition and maximize our investment opportunities.By aligning incentives and playing matchmaker with our team, we've created a tight-knit crew of high-fliers.

The property is surrounded by commercial developments and apartment complexes, so it likely leans toward a commercial or redevelopment play.