I don’t believe you can do a 1031 into building an ADU on land you already own, even if it wasn’t your primary.Reach out to @Dave Foster if anyone knows he would.

This, in turn, allows for higher rental rates or quicker sales, directly impacting the ROI.I could remember when an investor purchased an old, three-story commercial building at  a bustling downtown area.

My long-term goal is to build a portfolio of multifamily rentals while also working as an agent helping investors scale their portfolios.Your experience sounds incredible!

Heck, even within offices, the small 1-tenant office buildings suitable for a dental practice or law practice, those are in a very different world. 

The current rents are really low because the tenants are responsible for doing any and all repairs on their buildings (which in my opinion contributes to the poor condition of the buildings). 

It’s awesome to see your passion for real estate and your clear goals for building a portfolio.

It sounds like you’ve got a solid foundation with your rental property, and I love the ambition behind your plans to build a property management and maintenance company—it’s a great way to take control of your investments while creating additional opportunities.Best of luck to you! 

There you can build up your skills even further and these jobs can pay a lot if you are producing great results.  

I am from out of state so wanted less maintenance in the short term while I build my portfolio and grow to the point where I am comfortable hiring a manager!   

Honestly is better spent as a down payment on a second building.