You may need to pay a good faith deposit beforehand, and the lender will examine the property's rent roll, total expenses, total income, credit and your experience to qualify.

By examining how a market performed throughout a past real estate cycle, typically spanning a decade or more, we gain insights into its economic diversity and resilience during downturns.

Various builders know, and remember, assorted horror stories of so-n-so who held on, and held-on, waiting for a recovery that didn't come soon enough, wracking up more and more debts, only to get liquidated at a far worse bottom than if they'd just pulled the cord earlier when could. 

I got my own expert to examine a foundation issue that cropped up in the original inspection.

It was a nice getaway and gave us a chance to check out a possible new area for us.Sedona is wracked with restrictions, sometimes less than a few blocks away can be A-OK for STRs while 3 blocks away, they are banned.Having an agent like @Martin D. who is an investor himself and is very knowledgeable about the Sedona area and knows every little detail about the restrictions AND the political climate that can drive the changes is very valuable.

Both properties are near the end of a gravel road but well situated only a 5 minute drive from town.Looking into the zoning allowances, we would have to apply to the county hearing examiner for land use to use the property as a developed campground that would allow the building of cabins. 

Glad to help inspire fellow out-of-staters and new investors, it is definitely nerve wracking to take those first real steps but 100% worth it.

I have been wracking my brain for strategies to finance the purchase and rehab of a 7500 sqft, abandoned, 3 story, multi family property in the middle of our downtown.

I get the nerves, but you're already thinking ahead for your family and that’s huge.

Those nerves are totally normal.