I would like to pull out equity from the homes to build either a house on each or an ADU (they are zoned multi-family) depending what makes the most sense on returns and what is feasible.

I'd never heard of it myself but my friend and his family have at least a dozen rental properties out there.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

I currently own a single-family townhome in a great area.

I don't live out there but I have family that does.

Quote from @Tayvion Payton: Hey everyone,I'm evaluating a multi-family deal and could really use your insight.

A little history on my investment real estate journey if we can call it that….Back in 2005 my wife and I bought our very first home when we were 24/25, 3 Bed, 1 ½ bath 1500 sqft single family home for $167,000.

Lenders stopped allowing rent by the room due to modifications done to the property resulting in functional obsolescence and significant cost to cure in the event there was a default and they needed to foreclose on the home and resell it, given that the main buyer pool for single-family homes are primary occupants. 

I find the vast majority of my stays are families that love the games and 30-40% of the time they bring their pet as well.

Investment Info:Single-family residence buy & hold investment.