We have a third property a few bocks away that is a 3 Bed/2 bath.

We purchased 133.7 acres January 20th of 2024, we then proceeded to subdivide 4 building lots, ( two 10 acre lots,  and two 2 acre lots)  which included costs associated with septic testing,  survey & subdivision, and property maintenence required to market the building lots.

Second, real estate investments generate a return in one of two ways - Cash flow and appreciation.If cash-flow is negative, is the appreciation making up for it?

But it wa a decent gig for people until a year or two ago.

Two flats are essentially just houses.... they trade like houses and there is a lot of emotion involved.

Quote from @Nate Sanow: Yes I own two that are near 100 years old and I will tell you they are a pain in the you know what compared to all of my post WW2 properties especially post 1980… layouts are better in the last 50 years and energy efficiency is better and I can keep going… HOWEVER to reply to the other aspect of your question, I’ve found appreciation is better with older properties in areas of the path of progress.

Some more than others. two units had wood floors that we kept.

My two cents: get a job and HUSTLE right out of school and create some income and save up some capital.

I shared this recently on the BP podcast with Dave, and I told him that after two deals, I realized that I would never do a partnership again where I gave up 50% of the profit but provided 100% of the capital. 

Are you two seeing LTVs higher than 80% on that front?