Looking for ways to create more passive income for myself.I guess an additional question is how profitable should I expect a short term rental to be in that area? 

Since that one incident, there have been no further leaks, and the water has been on for three days without any additional drips.

@Wiey Underwood Prior to pulling the trigger on a Cost Seg study, you should evaluate 2 things:1 - How much net additional deprecation tax deductions a Cost Seg study would provide: Best way to get this is by requesting a free feasibility analysis from a Cost Seg provider.

I think that equity gains in good areas tend to outstrip the value of cash flow in the long term but if you're pumping money into a rental property you're going to need a hell of a lot of equity to make up for not only the additional funds you put into it, but the opportunity costs lost in that money and the money that's in the property. 

Make sure to have a security deposit that takes into account the additional risk.

There are additional acres to expand on.How did you find this deal and how did you negotiate it?

Be sure to have a detailed discussion with your lender to confirm compliance and explore all available options.Feel free to reach out with additional questions—I’m here to help!

The Plus subscription would allow you to keep track of each property/project and produce reports for them individually in addition to keeping track of the entire business as a whole.  

Happy to connect and share some additional experiences if that interests you.  

Architecture did a design and well respected contractor estimated the buildout of 4 plex would be an additional ~800k for total project cost of ~1M. it would be ~1.2M for the 7 plex.