We’re looking to remodel our small kitchen (about 12 x 12, L-shaped), and convert the garage into 2 bedrooms (not an ADU, no added bathrooms or kitchen, just adding bedrooms to the house).  

That is after I spent a week online eliminating ones that I could tell where too nice or in too bad of shape or in a bad area.

Demand Analysis: Assessing market demand, occupancy trends, and economic factors influencing demand.4.

@Jessica PerkinsTo make real estate a significant part of your retirement plan, leverage your experience in managing mid-term and short-term rentals, ensure your rental income is well-documented, research local market trends, and explore financing options.

(gray, gray, gray, etc) or other old trends. 

I will continue to buy in CO due to the overwhelming positive factors that come with owning homes in CO; Appreciation, strong demand, location preferences, long term trends of CO housing market and strong rent increases.

Additionally, joining local real estate investor groups or forums can be valuable, as members often share updates on regulatory changes and best practices.To automate and make the process more efficient, consider using tools like AirDNA or Mashvisor, which provide data on short-term rental regulations and market trends across different locations. 

Airdna has some great data - it's direct pull from Airbnb and VRBO + they post articles from time to time on market trends. 

The current market value of the home is about $645,000.Key Details:Purchase Year: 2020Purchase Price: $415,000Current Market Value: $645,000Mortgage Interest Rate: 2.99%Equity: $320,000Current Monthly Cash Flow: $1,450Return on Equity (ROE): 5.44% (without variable expenses)Return on Investment (ROI): 14.5% (without variable expenses)However, I've noticed some trends that are starting to concern me:- Home prices in my area are slightly reducing, and rental prices are also on the decline.- There are more houses listed for sale and rent in the neighborhood, which is pushing rent values down.- My current lease is up in September and the tenant is leaving, and I expect my monthly cash flow to reduce to $950, lowering my ROE to 3.57% and ROI to 9.5%, again, without variable expenses.- Homes are staying on the rental market for a few weeks, sometimes months, even at lower prices.

It's ok to bypass scalable appreciation in your town in favor of a property in good shape or that you can put in good shape that will consistently cash flow with decent to quality tenants.