Here in Colorado, we create a lot of non-conforming duplexes out of traditional single-family homes.

Or, once you finish your exchange you can immediately do a cash out refi, which is not a taxable event and you can use that for any purpose you want.

If you can manage the relationship to lessen turnover frequency and get a similar return as large landlords where if they took the same approach as the large landlord they would earn LESS.

Of course, with private lenders, you must give up equity or a return on the debt. 

I would find a property that can provide you both.I used to aim for 8% cash on cash return + 4% appreciationGiven where the market is now, it is likely hard to find 8% cash-on cash and a 4% appreciation.I think 4% cash-on cash and 4% appreciation is do-able.

Building a network here can open doors to partnerships, mentorships, and local insights.3.Explore the Blogs and Podcasts: BiggerPockets has tons of content—blogs, podcasts, webinars—that cover everything from beginner strategies to advanced investment tactics.4.Utilize the Deal Analysis Tools: If you’re considering an investment, the deal analysis calculators are invaluable for running numbers and understanding potential returns.5.Set Clear Goals: Define what you want to achieve, whether it’s learning a specific strategy or connecting with certain types of investors.

WE have done quite a few of those over the years with some pretty spectacular returns..

@Maegan Quaife, Of the 4 prongs of the Internal Rate of return 2 of them are very high for you - cash flow and amortization of the loan. 

Run the numbers make sure the return is what you want.

Just the other day I saw someone had used black sheet rock screws in the hangers on a brand new deck (non-permitted obviously, and not a single lag or any flashing on the ledger board, and they painted it immediately before the pressure treated lumber had even dried out so that’s going to peal in the first year, at about the same time that those sheetrock screws start to rust lol).