Stunned at the quality and detail of responses. Wow.
@Michael C Williams okay so focus on existing potential space that may be renovated into additional bedrooms. I understand, thank you for the context Michael! I appreciate you and would love to chat more about the information of respective neighborhoods. I will go ahead and ping you.
@Ali Boone I'll make sure to clarify the aims of the investment. I'm trying to 1.) reduce my housing expenses as much as possible and commuting time [not sure if they're both compatible or even possible as you mentioned due to HCOL] 2.) reap the tax depreciation/'paper-loss' benefits, and fingers crossed for 3.) an eventual 1031 exchange/take advantage of the $250k primary residence exemption for capital gains if possible. In gratitude for the article you shared & how to properly crunch the #s to help do that -- will make sure to use this information going forward. I appreciate you!
@Lawrence Leung understood. I hadn't considered local rent control & change in the classification of property, so thank you! Will double-down on the look out for area remodeling but not at the expense of a different property class. I appreciate you.
