I also have an investment company that has been established for 10 yrs that I’ve flipped a few properties and hold land in.**** My current issue with the lender that I recently spoke with was that I had to have experience building a SFR on my own property and have sold or refinanced and held in order to be approved for the loan.

With that said, the income can still offset the cost of holding the property as a long-term investment.

I’d look into the cost of a 500 sq. ft. garage and compare it to the potential boost in sale price.

., major systems like plumbing/electrical)Full Gut/Studs Down: $85-$120 per sq. ft.Luxury Finishes: $150+ per sq. ft.For ARV (After Repair Value), you’re absolutely right—it’s all about comparable sales ("comps").

Hey Natalie if you're set on holding onto the property I have a great property manager I use for my STR's that also will cover MTR and LTR's.

I will hold off on it. 

The typical holding period is 5-7 years, I know some DST's that have a 2-3 year holding period.

He told me they don't care if the houses make money, only that they more or less hold their principal because what we think of here in the US as volatility is laughable to most of the rest of the world. 

I just want some outside eyes to help me understand if this deal is what I should expect to find as I build my portfolio.I plan to buy and hold long term.

If you do something that is too high end or bold compared to what is available in the neighborhood, the exit could be very difficult