Investment Info:Small multi-family (2-4 units) buy & hold investment in Madison.

We are a multi-state management firm and work with out-of-state investors all the time.   

Was wondering if I could turn one of my spaces into an assisted living multi-tenant facility as it’s in a great area for it and can be changed with a reasonable rehab.

Hey Account Closed - I highly suggest  using a renovation loan and house hacking a multi-family if that is possible with your current life circumstances.The 203k and homestyle renovation loans are just amazing products and drastically help you reduce your risk, in my opinion, because you are able to leverage the cost of the entire renovation with such a low down payment loan.We work with a lot of clients who use these products in Chicago, and no matter what, in the long term, they gain great equity.If you aren't able to house hack - the process is essentially the same, but just with more money down with hard money or conventional construction loan.

With a budget of $300K-$400K, you could potentially find single-family homes or small multi-units in those areas.I'd recommend researching rental demand near universities like Duke or NC State or even checking out neighborhoods with strong job growth near tech hubs.

We are looking at single family, and/or small multi family homes in the northern Illinois and southern Wisconsin areas.

Hey, congrats on finding a potential flip—it sounds like you’re on the right track!

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Consider house hacking where you buy a multi-unit property and rent out the others.

Being clear about what you want to do from the start not only helps you stay on track, but it also makes it easier to spot problems or delays before they happen.I totally agree that talking to people is important.