If you do not have those it will extremely hard to ever sell it to someone who will require bank/lender financing or refinance it down the road if you want to pull out cash on the ARV or future equity.The other rule of thumb is that you buy it New and that it was never on another property or location, simple built onsite or trailered in from warehouse. 

The decision depends on your access to capital and the level of risk you're comfortable with.If you need support or financing for your future projects, I'm here to help.Best,Drago.

Was looking over the weekend, and was suprised by the spread , but love the future of Austin Hey @Kevin Brewster!

Just buying a distressed home, renovating and refinancing it to recoup costs that can be used for future investments, then living in it permanently?  

Once I hit that goal I'll take stock of how much I like scaling real estate vs. how much I dislike my job, and make a call on retiring vs continuing to scale.Your goal is both hard and very realistic.

Andre,First off congrats on making the move out of CA and into a more accomodatinng state like CO in terms of Taxes, Home prices, and future to build a sucessful REI portfolio. 

Some folks want a seat at the table and real control, while others prefer to be passive.. letting the sponsor do the heavy lifting.From what I read in The Economist, some markets (like Phoenix) are experiencing fresh pockets of growth in multifamily, so it’s definitely worth exploring if you’re eyeing future expansion.

@Felicia Richardson just a note for the future. 

Leveraging the equity from your house hack for future investments, whether in STRs or larger multi-family properties, is a strategic plan, but ensure your initial property performs well before taking on bigger projects like flipping.

This WAS commented on (thankfully privately) when I stocked Aldi toilet paper.