But once I got the bills, I increased the rent with the tenant's approval and signed an addendum to the lease stating the rent increase would be X and the owner would take over utilities.

I have found that the "value add" opportunities, with rent increases, renovations, zoning conversions, and other work needed, absolutely do take up more of your time compared to a more turnkey property - even with third party management overseeing the process. 

.- Builds long-term wealth - Generates rental income - Increases equityCons.- Complex process - Requires financing - Dependent on market conditionsAirbnb:Pros.- Potential for higher returns - Flexible pricing - Short-term commitmentCons.- Requires active management - Subject to regulatory risks - Income can vary seasonallyI wish you the best in your new venture.

Property has more than doubled in value, Rents have increased by 40% and very little turnover.

We signed P&S agreements on 6 different properties totaling 20 units approximately 8 months ago and received a call today that the price we thought we were buying at has to-be increased on average 13% due to the increased cost of construction.

My interest in entity transfers is the ability to forego a massive increase in the tax bill upon reassessment.

This would increase the benefit to where the fee would not be so outrageous that it would hinder the investment.

My plan for this year is improve my credit, get my real estate license (to increase my income on top of my W-2), possibly career transition into the property management space (to learn more), and save as much as possible and learn as much as I can.I’d love to house hack close to home but my area is so expensive it seems like it’d be close to impossible. 

Many states have discounted property taxes and lower yearly increases for owner occupied properties.

Even a small increase could make a difference in cash flow.