When running numbers, especially on small multis more western markets with direct access to NYC tend to be more favorable from the numbers stand point and many of these towns offer 30 minutes or less taking commuting lines.

Wanted to inquire from a few experts on what route to take for a side hustle I plan on running out of my garage.

I would suggest calling a title company rep and running this by him. 

Instead, I'd just rely on a CMA (comparative market analysis) of renovated properties in the area from your realtor unless you have local MLS access yourself to run the report. 

I would recommend running scenarios with a lender, and if your bottom line is not enough to help you get started flipping, then it's best to hold off. 

The trade-off is losing out on potential growth from a reinvested 1031 exchange, but if you’re thinking about a HELOC later to invest again, this could bridge the gap.What I’d do in your shoes:If it were me, I’d run the numbers on a worst-case scenario for each option.

An industrial condo for $450k built out as a brew pub (know anyone that wants to run one?).

I think the first problem you’ll run into is using an FHA LOAN through a partnership entity.

That’s what I’m talking about.. having people on the ground who know their turf and can spot trouble before it smacks you in the face.From what I’ve heard, outfits like Northwest Preferred Property Management or Umbrella Properties in Eugene aren’t just running the numbers.. they’ve seen the weird mid-season repairs and the tenant personalities you’ll never read about in a textbook.

My name is Rebecca and my husband, Nick Knox III and I have run Captain Save a Home LLC, Brew City REI Club, Brew City REI Training Cafe and Wisconsin Contractor and Handyman Club based out of Milwaukee, WI for over a decade.