I've been seeing less and less investors going into flipping.

Michael,Construction loan programs are fairly simple and in some cases the answer to little to no inventory.

Your buyer had a 1031 exchange funds and paid the entirety of the 8 plex purchase in cash?

We ended up going back to the tried and true Excel Spreadsheet.

Hey @Justin Brown, what @John Underwood said is spot on.SLC has been restricting STRs for a long while now and it isn't going to get better.People who have STRs in areas where they are not allowed are breaking the law and will eventually pay the price.Having said that, you should check and see if there are certain areas where it is allowed in some way and that is why they exist there.

Or just any suggestions for the best bang for your buck areas that offer at least a little cash flow and appreciation ?

With a family and kids the best house hack is a house and cottage or duplex option.

So they permitted the room as a bedroom and do the work through a contractor for $20,000 and now they get more money today due to livable pace added verse a dining room that was not providing as much value as a rental. 

We are Hilary and Corey and are new to BiggerPockets as we are interested in beginning our real estate journey.

For many homeowners, particularly the elderly and those on fixed incomes, this cap can provide much-needed relief from what has been described as a “backdoor tax increase” due to rising property valuations [5].Long-Term Benefits and Potential DrawbacksWhile the immediate benefits for current homeowners are clear, there are several long-term implications and potential drawbacks to consider.