My 3rd project was a ground new construction project in the Chicago Bucktown neighborhood.I'd highly suggest getting in touch with some active developers and spending as much time with them as possible. 

While most people hit pause, the ones who win next year are quietly setting up their systems, refining their strategy, and learning how to find deals while everyone else is distracted.Two Months From Now Could Look Completely DifferentImagine this: it’s January 1st, and instead of writing resolutions, you’re already reviewing offers, nurturing sellers, and planning your next acquisition.

Work your azz off, spend nothing, sink all that cash into a reasonably safe investment in the short term like a CD or high-yield savings account.

What's being done about those units in terms of payment plan / evictions / etc? 

Make sure you figure out the rent or sale exit strategy before you start the rehab because that will determine how much you spend.

Also got depreciation tax benefits. 2% appreciation and we're already close to stock market returns.With retirement planning, it's generally held that a 4% safe withdrawal rate from stock market holding.

For example, if I acquire the property on 12/10, spend 12/11–12/18 getting it ready, and list it on Airbnb/VRBO on 12/19, my understanding is that for material participation I can only count hours from 12/19 onward — i.e., after the property is available for bookings, not after property was acquired or after obtaining the STR permit.Can someone confirm?

Once you understand how each bucket depreciates, 5-year, 7-year, 15-year, 27.5-year, you start making rehab decisions differently because you can forecast the tax impact alongside the construction impact.On my side, because I run a decent volume of BRRRR and Section 8 rentals in Memphis, I’ve had to build a system that keeps everything tied back to the property’s basis and the future refi plan.

Also consider seller financing or a small rehab/bridge loan if you plan to add value before refinancing.• Market approach: Analyze a bunch of deals, focus on solid rent-to-price ratios, and pay close attention to insurance, taxes, and rehab costs — Portland varies by neighborhood.If you ever want help comparing financing options for your first buy or understanding what you’d qualify for, I’m happy to point you in the right direction.

You're going to spend more than you plan on, but I'm a fan of spending $7000 to increase rents by $800 per month (I'm making numbers up, but you get the idea).