Property looked great on paper. 2 (3) bedroom units renovated and unoccupied, 2 (3) bedroom units not renovated and occupied by section 8 tenants.

Despite no additional renovations being necessary, our efficient strategy and swift turnaround led to a same-day sale at $225,000.

It often delays or even halts the project.

After undergoing a complete renovation, I sold it in 2018.

Just to confirm my understanding, you are living in a side by side duplex in Miami - you want to renovate the other side that you aren't living with a renovation loan?

@Zach Howard some copy & paste advice below:)-------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I was thinking about getting the property, renovating it, and then cashing out 80% of the ARV to get some of the money back.

Between working around the renovation materials to the 35 minute commute to the first two units I’m having serious second thoughts about this.

So renovate this year, cash out refinance end of next year is totally possible!

These professionals often look for properties like yours to renovate and flip or hold as rentals.