Hi, long time follower, however not too much on posting.Goal: I’m looking to purchase a 3 family property in central CT.Position: Currently I own two condominiums that are under an LLC.

Like you said, you don't want to grow super fast so take your time and watch the mortgage markets.

Typical equity build up time is 5 years, depending on your market.But can you purchase another rental using your own capital?

I guess I could do some work-arounds -- maybe reserve one unit in the first purchase for use as an AirBnb, and reserve my own time in it when needed - instead of claiming it as a primary.Are either of you (or anyone) familiar with a finance product/loan that will allow me to purchase under $150,000 (w/ strong credit) and do much of my own work and live-in a portion as a primary residence?  

Factoring market conditions at the time of refinance, I negotiated a lower rate and conceded a lower term anticipating rates to normalize in the 4%-5% range by 2026.

So after speaking with our cpa we have decided now will be the time to sell and avoid capital gains tax ! 

Here are a few to watch out for:Property Condition: Most distressed properties need extensive repairs or renovations, which add to your initial investment.Competitive Market: With Phoenix's popularity among investors, competition for the best deals can be intense.Complex Deals: Foreclosures, auctions, or short sales are much more complicated compared to regular real estate transactions and usually require specialized knowledge.Tips to Successfully Navigate the MarketDo Your Research: Understand the local market conditions, including neighborhood trends, property values, and potential rental income.Build a Strong Network: Work with professionals who specialize in distressed properties-such as brokers, contractors, and legal experts-to make the best decisions.Assess Costs Carefully: Factor in the cost of repairs, holding costs, and any potential financing issues when evaluating a property’s profitability.Be Patient: Finding the right distressed property takes time.

If you are going to have this asset for a long time it'll be worth the peace of mind knowing its updated. 

I know some landlord's show up with something for them to sign or fill out that they previously (on purpose) forgot to give them, but you could also just be upfront and say a visit is part of your screening process - you check the condition of the rooms to see how the unit is being taken care of.

If the reduction helps the property rent in less than a month, then you have only lost $1200 over a 12 month period of time.