If you’re not occupying the property and plan to either sell it or keep it as a rental, you might want to consider a bridge loan through a hard money lender.

Appreciation, in particular, is crucial, while cash flow acts as the fuel to keep the property sustainable.Your Scenario with 2% Home AppreciationHere’s how the deal looks using your assumptions:Year 1 Analysis Cash Flow: -$1,123 Initial Equity: $51,000 (assuming a $249k purchase on a $300k market value as per your report).

You would need to contribute out of pocket each month to keep the investment afloat.

Always keep in mind that you won't blink to pay $2,000 for a new tires on your SUV.  

But keep us informed please. 

Hired part time admin assistant and 1/4 time services of book keeping professional. 

Why would you literally wait until the last minute, when a flat tire or difficulty finding a parking space be the difference between keeping and losing your home?

There’s huge retal income potential if you nail that balance between improvements that wow tenants and improvements that merely look fancy but don’t justify higher rents.I’d also keep an eye on how your high end plan fits the local demand.

But if you're able to figure it out and get it built, you can rent out the units and essentially BRRRR it and pull some/all of your equity out to repay your debts, yourself, and potentially keep the investment cycle going. 

Keep learning, stay consistent, and reach out if you need help running numbers!