Hey Robert - Condos and apartments can be a solid entry point due to lower purchase prices and potentially lower maintenance responsibilities, especially if the HOA covers exterior upkeep.

You take a HELOC for your primary renovations at 7%, invest the funds from option 1 to cover the payments of the HELOC.

We have 10 properties in total on our 'resume.'  5 SFRs that were bought, remodeled, and sold.  4 30+ unit buildings with heavy capex (north of 300K) and a completed ground up construction of the exact unit I am trying to get financing on now.  

Currently finalizing a deal for another property with a different individual investor where we will have the same payout model, but they will put up a bit more cash to cover all the admin work I have to do to set things up. 

The guest stay with discount and toilet replacement did not cover the cost of the unit for the stay. i have the issue on occasion that the guest is expecting a bigger unit and thinks the price is high but they do not realize the value of the unit.  

They managed to cover the mortgage and still had a comfortable place for family vacations.

The reality is that insurance will cover your 16-year-old's accident.

Hi Owen- Most others have covered the specific areas to consider.

This allows you to pivot when you can get a more favorable situation.Renting:Pros: Flexibility, less upfront cost, maintenance covered by landlord.Cons: Limited equity building, rising rents can strain affordability.Buying:Pros: Potential for long-term wealth building through equity and appreciation.

If you do outsource, some management companies will cover various things like cleaning, supplies, etc. so look into that as well.