The key would be to properly line up a plan (Scope of work, contractor, exit numbers)!

Sometimes, I see people add bedrooms when it doesn't make sense.It's often not as simple as just putting up a wall because you need lights, outlets, and proper ventilation.

Both strategies have risks, but with syndication my feel is that there's much more opportunity to diversify your money and optimize for taxes. 1031s, for example, are possible with syndications if structured properly.

You'll want to understand what kind or notices and documents you need to get executed to either up their rent or turn the unit.Solid long term tenants are worth their weight in gold in my book so if theres a way to up the rent and keep them happy I's say thats the best route personally.

Make sure you have proper signage up in the parking lot.

If you are doing electrical work without proper licensing (even if you have the skills) and without permitting, you are putting your house at risk and your insurance.

Properly sized domestic HVAC systems are designed to maintain a 20 degree difference between the indoor and outdoor air, but even that has limits.With an OAT (Outdoor Air Temp) of 114, the lowest indoor temp one can reasonably expect is 94.One can reasonably expect climate change to have an impact on sizing guidelines going forward.My $0.02 ...

Be careful, wish properly.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Good due diligence includes a proper inspection before purchase along with the other elements of one's due diligence.Thanks for the remedy reminder as well.Investors selling property need to consider these things as well.