Rent growth did help with deals continuing to meet the 1% rule though.Similar to your deal that was just shy of a 1% rule when you bought it, it sounds like you have had many major updates to do to each unit as tenants have moved out to get them to market rents.

Considering the high prices of other lots in the area, many have said I got a great deal.The land I bought has a 2-bedroom, 1-bath house that was listed as 550 sqft but is actually 750 sqft; the records just weren't updated with the city.

Duplexes can be a fantastic way to generate cash flow-just watch zoning laws, hire reliable contractors, and stay updated on rental trends.

They sit empty because the costs to update them to code make a project unfeasible for private money. 

You can't charge more because you did more;  more updates/upgrades do not necessarily translate to a higher sales price. 

I do feel like you're trying to sell me something with all the refreshes and updates and modern whatnot.

._____________________________________________________________________________________________________________7/28/24 - UPDATE WITH NEW PICTURES.Hi all, just sharing the update and the experience, we finally after interviewing about 4 different contractors picked the right one so far.

Hi all,I've been trying to find updates of the 1% rule and whether it's working in 2024, specifically when you're using a mortgage at 80% LTV, 30-year mortgage.

._____________________________________________________________________________________________________________7/28/24 - UPDATE WITH NEW PICTURES.Hi all, just sharing the update and the experience, we finally after interviewing about 4 different contractors picked the right one so far.

Update your operating agreement, notify your state, and file IRS Form 8832 if needed.