Please see the rough numbers below :Tear down house price 350k,Construction cost 165 sqft * 2 build=627k Darnell, did you get your questions answered?

Explore off-market deals where competition might be less intense.Don’t get discouraged—success in these markets often comes from building strong connections and thinking creatively about deal sourcing!

I here in the Netherlands Rotterdam working on renovating a 3 unit building

IF it is a real problem, then yes, fix it.I would build a fir-in wall out of 2x2s and insulate it heavily (Rockwool comes to mind https://www.rockwool.com/north-america/) There is also drywall that is made for this.

If you're open to exploring new markets, this could be a great way to pick up properties for cheap and build cash flow with a much smaller upfront investment.

Quote from @Jaron Walling: @Kane Spangler There's a since of pressure to build or buy RE in your post.

We want to purchase a property to begin building our rental portfolio but are unsure of the best approach.We live in Sonoma County, California, and I work in Healdsburg.

this is a direct relation to lack of inventory.. new construction on many markets is as robust as its ever been.. we have had spectacular years the last 3 years of course during covid was tough with supply chains but my 500k house I am now selling for 700k and my build cost have gone up by maybe 100k.. so record profits for us.. 

Not calculating your basis properly between building and land, which impacts depreciation. 2.

I am also a huge fan of real estate and for the past 50 years there's been a way to combine both.By leveraging a Self-Directed IRA, real estate investors enjoy both the traditional advantages of property ownership and the additional tax benefits of retirement accounts, creating a powerful wealth-building strategy.