Hi All, I own several rental units in the Bay Area. I have been stuck with how to progress into building a full rental investment property business. I tend to do most of the work myself, for example, maintenance and s...

Hi @Connor Fortenbacker,The number one book I would suggest getting would be: Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine. 

@Ryan Breen removing old plaster / panelling and doing some skim coat + new paint is some of the most rewarding / transformational stuff you can do!

I'd love your opinion on the following question: Should my first investment be a BRRRR or transforming my 1,000 sqft detached garage / workshop into a short term rental unit?

@Whitney Hutten You make some very interesting and unexpected points.At this point I'm intimidated by non traditional financing but I do plan to learn a lot more before I make my next purchase.I've been thinking quite a bit about partnering with more experienced investors as it seems like a great way to gain mentorship as well as to maximize the success of the investment.At this early stage my portfolio is fragile and I can't afford to make big dumb mistakes.At the very least I do not want to make another RE purchase until I'm feeling really solid on my network and education, not to mention the recovery of the economy.The question of whether to sell or hold has tormented me for years.There is one other factor I neglected to mention in my OP that made me decide to hold the property, for at least a year or two longer:This home is within throwing distance of a major city overhaul project that is drastically improving the area immediately surrounding it.It's been transforming a creepy downtown area that previously you would not want to walk at night (or even the daytime) into a bustling mixed use community.The project has been going on for years and right now is finally in progress in the blocks visible from my house.Also the house has easy freeway access, and is positioned within 10 minutes of an extremely expensive beach area.

Paint is a cheaper upgrade that can really "TRANSFORM" a space right.

Looking forward to helping with the transformation over the next few years buddy!! 

For instance transform a motel into 18 1 bed one bath apartments?

Let me know your thoughts please." style="-webkit-font-smoothing: antialiased; margin: 0px; padding: 0px; border: 0px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-weight: 400; font-stretch: inherit; font-size: 1rem; line-height: 22px; font-family: "open sans", sans-serif; vertical-align: baseline; position: relative; overflow: hidden; color: rgb(52, 65, 77); letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; height: 256px;">My business partner and I have multiple multi family apartment buildings held as a General partnership.

We even have burnt properties transformed into good looking turnkey rentals.