If you were going to just do a remodel like a flip and not add living space I would say that would not get you more money.

Please provide what automation you couldn't live with out and why!

But overall I am willing to try because the prices of homes in that area are extremely cheap compared to what I'm used to in Jersey where I live. 

@Jenna ChenHouse hacking a value-add duplex in Atlanta is a smart strategy to build equity while keeping living costs low.

My current options: rent out the current 4 bed 2 bath house that I own and live in so I could move into the 300k house and remodel while I live in it.

As a beginner investor based in the Seattle metro area, I'm eager to learn from your experiences and share my journey as I get started in this field.My current strategy is to focus on live-and-flip for the first three deals (looking for my second deal) to gain hands-on experience while building equity and learning the ins and outs of renovation and the local market. 

Make sure they have live events in Albuquerque. there are so many places to eat in Santa Fe. 

The reason people hesitate to pursue ground-up construction here is because it's costly, unless you're building a two-family home where you can live in one unit and rent out the other.

The chances that you currently live in a city meeting all these criteria are low.

Also, if you haven't lived there but are a co-owner, you or your friend may not be able to avoid capital gains tax.