They attract artists, creatives, and people who appreciate a vibrant urban lifestyle.Real Estate Appreciation (Historically): @Dan H. points this out with his bathroom addition.

In trying to be more helpful, I came up with two additional ideas:1.

Its more like 98/2 with an additional 5% saying they do stuff so they can get a piece of someone else's hard work while they have not done anything and live in their mom's basement.All that said there is value well over the cost for those who apply themselves to deriving the value. 

Although I haven’t received an acceptance yet, I’ve been actively sending out LOIs to property owners.I’m aiming high with my first acquisition because I’ve heard many investors wish they had gone larger at the start.

Additional Info —Key Details:Location: Outside Santa Fe, NMProperty Size: 20 acres (valued at $80,000)Project: Two new STR unitsExisting Experience: Family has two fully-occupied LTRs nearby, generating $2,000/monthConstruction Approach: Self-contracted with licensed trades for electrical/plumbingCost Assumption: $80,000 per unit, plus ~20% for inflation (based on 5–8-year-old build costs)Financing: Using land equity as down payment on construction loan (expecting closing costs to be major expense)Request: Looking for feedback, potential pitfalls, and general guidance

We also require that we be added to the contractor's insurance as Additionally Insured, so we're covered if they cause damage or liability issue.3) If the property is occupied:- One of our people MUST accompany their person (and we charge for this). --- We were sued many years ago, along with the owner, because tenant claimed owner's contractor sexually assaulted them!

Seriously, it's important.And as mentioned above, the amount of rent you receive on multi-family properties is based on 12 month rental comps.  

I can give some additional feedback in the coming weeks. 

I have a large lump sum saved in an investment account for down-payment and any additional costs.

I personally just want the monthly/quarterly updates and the inbound wires received.