I wouldn’t feel comfortable buying a rental until after a year or two of proving the concept with the team.

I live in Oregon, housing market is pretty inflated over here, and the area is growing seemingly pretty quickly as I'm located near Portland.My knowledge on real estate is very limited, I'm just starting to learn about the concept of rental property investing.

I reserve my vitriol for the overall model, or concept, itself.

Example would be a $3.5 million building requires $750k in cash and the rest in debt and a year or more to develop from concept to completion.

@Cody WeberIf you search the {Canadian} forums there are a couple of threads discussing just that very subject ... one not terribly long ago as I still recall contributing to it.The practice of {correctly} buying an unloved property; rehabbing that property; and re-financing has been around far longer than Brandon's catchy little acronym.While the concept is universal, the financing component is somewhat different here in Canada than in the U.S.A., so keep that in-mind when reading content here on BP.  

According to this recent article in the Providence Journal, "there is no fee to obtain a permit".However, the article also says, "To obtain temporary-use permits from the city’s Department of Inspection and Standards, property owners must have basic safety measures in place, including visible printed materials with diagrams of all exits and clearly marked fire extinguishers."

Up and coming is a tricky concept - they are by definition volatile areas, often driven by speculation or the anticipation of a major investment or new business.

Familiarize yourself with the concept of "boot".

I got the impression its not quiet "The Holy Grail" but the concept does work.

I do kind of understand the concept but I do not understand how can I financially do that?