I have made some local connections for contractors to do something solo when my current projects wrap up. 

I’m weighing two options for our housing situation and would greatly appreciate your advice, given the complexities involved.1.Renovate and Buy Another Property•Invest to renovate our current home adding a bedroom to the house given our family outgrew the house.

However, the process was extremely cumbersome, communication was inefficient, and the loan fees were inflated compared to other deals I have seen from fellow investors.We will be ready to begin the refinance stage of our next project in the coming days, as renovation is finishing up and we are screening tenants.

The best way to do this is to renovate a unit or two to the specifications to bring it up to market.  

Property looked great on paper. 2 (3) bedroom units renovated and unoccupied, 2 (3) bedroom units not renovated and occupied by section 8 tenants.

Our team buys the properties and converts them and manages them so it has been a great learning experience seeing all three phases from taking down a project, renovating the building then managing the lease up.

Beyond the lessons from the projects themselves, building a business that’s efficient, diversified, and focused on the luxury market has been a game-changer.

Most lenders won't require an application fee and should be able to clearly lay out their financing costs, cash to close, and projected profitability for you.I hope this helps.

Lots of older houses but there seem to be several that have the potential for cash flow and while not exactly modern on the outside, have been renovated inside. 

@Nate Pucel The depreciation basis for a rental property includes the purchase price plus the cost of renovations and improvements that add value or extend the property's life.