If I were to sell my house I believe I would pocket around $130k.

I own 27 properties in Greater New Orleans (36 doors) and wholesale around 50 houses a year in this market. 

Thank you Eric.In addition to the rental properties, my wife and I have a paid off house, paid off car, and about $1.4m in retirement accounts, brokerages, and savings.We live in a HCOL area and our expenses are $9.5k per month even though we live pretty modestly.I set out initially to have real estate pay for at least some of my expenses in order to give me more freedom and financial security.Is your wife quitting too? 

I looked into this at more than one occasion, because Milwaukee has such an old housing stock, everything is 60-120 years old.Most of the new apartments we see are 4 and 5 star developments with very high rents, this allows to offset the high cost of construction a little better.

However, your investment in the house, officially called tax basis, did not go up.

I agree with you is hard to enforce, the house is 20+ year older.

End goal is get into the commercial housing and industrial.

Occasionally if they have other assets maybe she can keep the equity of the house and he gets to keep his full 401k or something like that.   

I own a mobile home that I rent out and I am looking to make my first MFH purchase this upcoming year to house hack. 

You might also meet title agents who have resources on, say, foreclosures or probates…and might recommend lenders who actually lend on more difficult projects (as the title companies also know which lenders can close and which are difficult).I also go visit open houses to see what sorts of finish to put on my renovations or to look for the next house or area in which to purchase.