Succesful House Hack. Now what?

[Erik DeLeo]

Hello Bigger Pockets,

I'm sure some older members will tell the newb (me) to go to X&Y thread for some of this, but since I'm new I just wanted to post my current situation. In short, I'm not sure what my next move should be.

I recently purchased a 4-plex in Tulsa and house-hacked it. 3 of the units are rented out (below market rents) and I live in the 4th. Property needs some updating, but it's in overall good shape. On paper, per appraisal (before any reno), I have roughly 50K in equity. Bonus is 2 ADU's in the back (possibly makes sense to do a tear down and build new on that square footage) but there are 6 doors on property.

I was supposed to get renovation money (rehab loan) but looks like lender messed up that deal. So right now I am paying to fix up my unit with money out of my own pocket before I move onto another. WIl probably start with the bathroom, but this is obviously a slower process (using my own money).

Goal is to make entire property a midterm rental. In Tulsa with the current market that's about $20k per door vs about half that for long term rentals. There's a hospital 2 blocks away and when I'm ready, I'm planning on reaching out to their hiring manager (and other hospitals in town) to see who their main agencies are for traveling nurses.

I guess my question is...what should I focus on first? I'm impatient and want to get things "going" but not sure if private money or hard money is the way to go. There is also a duplex for sale a block away, so that seems tempting too. I live in an area that's developing and it's sandwiched between a bunch of nice areas.

Thanks in advance and please be nice lol

Erik in Tulsa