I got into commercial properties after my first investment.

Start small with strategies like house hacking, leveraging your hands-on skills for value-add properties, and building a strong team or network to reduce risks.

Is the property already zoned multi-family?

And using the process buy a new property or properties that you also intend to hold for investment use.The issue for you might be that you purchased this property with the primary intent of selling. 

I tried FB ads, and got some inquiries but no bookings.It would be nice to have an AI program that would respond to people looking for a certain sized property in your location for certain dates.

These costs are added to the basis since the property is not yet placed in service.3.

As for the increase in rental potential on the properties.

At a 7% annual return, this could grow to $908K after 10 years, providing immediate liquidity and diversification.Alternatively, holding the property could yield $825K net equity after taxes in 10 years, assuming a $900K sale, with the potential to defer taxes via a 1031 exchange if reinvested into another property.

Congrats on finding a property and a willing seller!

Hey @Keagan Scott, so I don't have any insight into Gary, IN but here is a blurb -"Those looking to rent out their properties for less than 30 days (about 4 and a half weeks) will have to get a permit, pay a one-time $150 fee, and have a city business license.