Bonus Tip: If this quadruplex is out of state, I’d highly recommend building a reliable local team (cleaners, handymen, etc.) and maybe consider hiring a co-host or VA to help with day-to-day tasks, especially if you scale up. 

By doing this, not only are you increasing the value hopefully building you some equity (giving you some boost in your net worth) but also increase rental potential too. 

Painting was going to be about 8k, and the building still would've looked like junk afterwards because aluminum siding dents so easily. 

We are currently building many investment Single Family Homes on independent lots that focus on maximizing rent.

This applies even to the 100,001st question about LLCs vs Insurance.I recall a rule here prohibiting responses like, "This has been answered many times.

Additionally, we have a decent amount invested in retirement accounts, which we plan to continue building over time.As part of the move, we’ll be purchasing a larger home.

.• Creative Financing: Keep an open mind to creative financing strategies; sometimes thinking outside the traditional box can reveal opportunities others might overlook.On a related note, I help investors streamline their operations by generating quality leads and assisting with VA hiring, which might be useful as you build your team and network in the area.Looking forward to seeing your progress and sharing insights along the way.

.: And how would you enforce that ruling Brian?

However, if you sell instead of rebuilding, the IRS may include part of the payout in your taxable gain unless reinvested under the §1033 involuntary conversion rules, which allow you to defer taxes by purchasing a similar property within two years.If the property was your primary residence, you may exclude up to $250K (single) or $500K (married) of gains if you lived there for at least 2 of the last 5 years, likely resulting in no taxes owed.

I'm building some currently (so obviously I think that works).