With regard to renovations, I always suggest taking incremental steps to bigger renovations or partnering with someone who has already done a renovation at that level.I've been known to just go for the big rehabs for my personal investments here in Chicago , and during that process, it's always more stressful than it needs to be...As far as navigating the competition, I've found the best thing I can do is get EXTREMELY CLEAR  on what I am looking for; then I am confident pulling the trigger quicky. 

IMO, even at $1.25M, and assuming you can improve occupancy and raise the rents to the low end of the market range (after doing the rehab), I think there's a deal here.

I bought 6 unit property in Wildwood,NJ,in November 2024, doing rehab now, should be done by May 2025I am planning to subdivide 6 unit building to 6 separate condos and sell fall 2026, , if there are any experts in 1031 that can help me?!

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

We follow a similar model as @Bill B. and with similar results, except our properties are from the 60s, so we gut them and rehab from the studs up, basically resetting the clock. 

In this case, you would draft an operating agreement that specifies each partner's role—your friend providing the cash and you handling the rehab and management—and that profits and ownership are split evenly.

Same issue, website address doesn't work 

The thread addresses a different topic, the Real Estate Professional status, but the same principle applies to the hours in both contexts.

., signing up for an eBook in exchange for an email address) and was wondering if anyone has suggestions on lead magnets that have been particularly effective in converting interested parties into prospects.I’d greatly appreciate any advice or guidance you can share.

Text isn't an officially acceptable way of relaying this information here.On the somewhat rare occasion when I deduct from a security deposit, I send an itemized list of the expenses deducted to the tenant's new address via certified mail.