I’m deliberately early in the process and want to pressure-test assumptions before committing capital or geography.If you’re actively developing, operating, or investing at this scale and are willing to share perspective—publicly here or privately—I’d appreciate the insight.

Tracking rehab costs, splitting personal/business, reimbursables, multiple properties, or something else?

Many investors end up growing faster by choosing markets with lower entry prices and stronger rent-to-cost ratios, where cash flow is more predictable and you can add multiple units instead of waiting on appreciation.

Maybe it is worth the effort to build, and if it is not, you can sell the land and make profit risk free.I have "flipped" multiple opportunities before that I didn't take the the finish line.

Keep in mind the 750 hours a year is only half the test, you also need the majority of your activities to be real estate.

We have multiple facets to our business.

Hey everyone — looking for some real-world advice from investors who’ve been through a few cycles.I’m in a position to buy my first (or next) serious deal and want to pressure-test my thinking before committing.My situation / flexibilityBudget: Under $400kLocation: Anywhere in the U.S.Strategy-flexible:Section 8Market-rateDuplex / triplex / 5–10 unitSeller financing / creativeValue-add or stabilizedWhat I’m optimizing forCash flow matters — I want the deal to stand on its ownThat said, I don’t want to park capital in a market that permanently lags inflationI’m not chasing appreciation-only deals, but I also don’t want to be stuck in areas with no long-term upsideA middle ground between strong cash flow and reasonable appreciation would be idealI’m okay with operational complexity if the returns justify itLately I’ve been seeing:“awkward middle” deals with real risk but thin upsideCash-flow markets that look great on paper but feel capped long termBetter areas with returns that only work if appreciation bails you outMy core questionIf you were starting (or re-starting) today in January 2026 with:Some capitalGeographic flexibilityWillingness to self-manage or hire a PMAnd a long-term mindset👉 What would you actually buy right now, and why?

Hi Cameron, YOu can use HELOC's to acquire more rentals, but whether you should depends on how conservatively you use it.But keep in mind that HELOCs on rental properties are harder to get than on a primary residence. fewer lenders, lower LTVs, higher rates, and stricter seasoning.If you go this route, stress test for:-Variable rates-Strong cash flow coverage-A clear exit plan (HELOCs work best as short-term/bridge capital)-Portfolio-level riskUsed conservatively, HELOCs can help you scale.

Potential borrowers are probably not asking for a loan for a type of project the lender hasn't already done multiple times.

STRs are exempt from the passive activity loss limitations if certain material participation tests are met, even without REPS status.Now, for some very rough numbers (this is not tax advice — definitely speak to a CPA for your specific situation):Let’s say you buy the property for $315,000 and you do around $100,000 in renovations.