I just became a grandma (Nonna) and I love the idea of having one condo for each of my two children (they are next door to each other) to stay at with their children, in the future.  

Current plan is to take out an equity loan on the property (tax rolls have it at ~$300k) and use some additional cash to build 4 units, then refi, then build additional units until we have ~20 doors on the property. 

But with the rising costs, breaking even seems less ideal, and I’m questioning if it's the best strategy in this market.Current Consideration: After digging into the numbers, I’m seriously considering going the STR route instead.

How many properties / doors do you manage?

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

Rents will continue to rise year over year if you keep up with your property and if you hold onto the multi long enough you will eventually cashflow once you decide to leave. 

First I want to thank you for reading, I am new to the investment market and the idea is exciting and terrifying at the same time.A few facts:Purchase Price: 325,000Rental Income Estimate: $5250Property details: This is a 3 door property:1. 1/1(main building)2. 3/2(main building)3. 2/1(separate building)Repair estimates to get all 3 properties up and running: $145,000 - $200,000I do not have a ARV since its very unique there is not anything we can compare to but I am looking to get a third party appraisal.Plan is to do a mortgage for the property with cash down payment.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases.

Networking also plays a vital role; connecting with other investors, real estate agents, and industry experts can provide valuable insights and open doors to new opportunities.

A degree will open doors to a higher paying W2 allowing you to get higher loan amounts to continue to scale.