I believe the property have appreciated in value just based off recent sales in my market area.

If the condition is similar to the market average but your rent is severely under market rate then I take an average between the current rent and the market rent and send them the following message 2 months before their lease is up (assuming you aren't in a rent control market),Dear Tenant,Some nice words and remind them that their lease is up within 2 months, please select the following options about their new lease, also mention that you are doing the best you can to maintain the rent as low as possible but with inflation, insurance and property taxes increasing, you have to raise the rent to keep up with the rising expenses. 1.

But I have been interested in doing a HipCamp style property.

Location and desirability are two major factors in the success of an investment property.

Are you primarily looking for cash-flowing properties, distressed deals, or value-add opportunities?

I did find this deal driving driving for dollars, the realtor of the property was adding his sign in the front yard, I approached to make and offer. we close in 3 weeks.

The property has been 30 years since it has been updated and it is in need of a renovation.

I’d like to discuss it with a realtor, but I’m worried that if I disclose the deal, the realtor could bid against me on the property.

The vast majority of your wealth gain in real estate will be by holding properties long term and the appreciation/principal paydown will slowly but surely help you become wealthy.For 90% plus of people out there who are looking to start, house hacking is the best way to go.

I get what they are trying to do here, preserve 2-4 unit properties and discourage deconverting to SFH.