Consulting with both a real estate attorney and a licensed architect is crucial.The attorney can advise on the legal aspects of converting a cellar into a legal apartment, including zoning regulations, building codes, and the legalization process.The architect can assess the physical space, determine if it meets conversion requirements (ceiling height, egress, etc.), and create plans for a compliant renovation.The 2019 pilot program you mentioned wasn't permanent, and the high costs associated with it discouraged participation.

I've lost a lot of listings because I give the owner an honest assessment, they choose to list with another agent that agrees to list at a higher price, then they eventually sell at the price I said they would (or lower).The NAR lawsuit doesn't change what you pay or how you list.

Investment decisions are highly dependent on each individual's assessment factors, period of time assessed, investment financing, etc.My current ROI is far far greater now than when first purchased. 

Special Assessments of tens of thousands against each Owner to do the upgrades and repairs or they cancel the Insurance or Condemn the Tower.

Smart people - if I own 24 buildable lots appraised ~$1.6-1.8 million in total (assessed by town at $1.4M), what do you think is the best way to build out the homes (notionally $300-400K builds/$450-550K sells) and make money: a) putting the least money out of pocket into project, and b) NOT signing on construction loan(s) if possible? 

The Milwaukee Mill Rate for 2023 was $26.07 per $1,000 of assessed value (2.6%).

🙌I think it's crucial to look at past results and current trends while assessing a market.

@Sean Ross your assessment that they need to buy out the partner or purchase with them isn't what I've heard over the years for a TIC.

Analyze specific duplex listings to assess features, amenities, location, and potential rental income.

My first Indiana property, Class A owned for 10 years, is positive CF but not for long with the property tax increases (17% the last assessment) and I'm in market rent range.