Gradually transition to larger, higher-end projects as you gain confidence and expertise, balancing risk and reward.

Quote from @Jamie Bateman: @Chris Seveney well, I don't want to increase the demand for the next trade, but with the HECM NPLs you get interior photos prior to bidding.

This increases the perceived risk and perhaps the legal fees to put in place and then defend if necessary. 

I would increase their deposit by that amount to ensure you have enough to cover an empty tank and a month of lost rent.

My question is, if I want to remodel aspects of it to increases its valuation does it make sense to wait until I rent it out a year to someone or do it before hand ? 

.: @Travis Boyd you’ll lose more in interest rate increases, potential property taxes increases, realtor commission and other transaction costs than you’ll pay on any future cap gain taxes.

i am confident i can manage the relatively small amount of requests, and have heard some good things about apps and software that are a "one stop shop" for landlords that allow payment, leases, and repair requests. i have one out of state rental property with a plethora of options for handymen and contractors around. i have been paying a property management company 8% plus all of their inflated costs of repairs and fees and with insurance going up it has really opened my eyes to my margins not as healthy as i would like.do you have a certain product you have used or use or would recommend?

In a seller's market, home prices typically increase due to limited inventory, while in a buyer’s market, prices tend to be more negotiable.

I want to build a home on the property to increase value at some point.

The increased depreciation deductions can offset your taxable income, including gains from the sale of the previous property.