there's a lot more economies of scale if you reduce the footprint and stack higher like a 3 story walk up. are you worried about the rezoning process?

Is a very cash intensive play but for big earners this is a good investment because with the investment into their properties they are reducing their taxes.

Shoot, i just had both book for Labor day weekend a couple of days ago.

You could start with something that needs cosmetic updates rather than a full gut renovation to reduce your risk.Balancing Income: If your current job doesn’t provide a high income, leveraging real estate to supplement that could be a smart move.

The cost basis is carried over to the new property, but it doesn’t reduce the taxable boot. 

Which reduces Cap rate.4.

FED says they're reducing rates in Sept. which will make finding deals much harder.

Mortgage Payments (25-30% of Income)Rule of Thumb: Set aside 25-30% of your rental income for mortgage payments.Why: This ensures that your mortgage obligations are always met, reducing the risk of default.2.

I started out with a smaller deal to reduce the overall risk just in case since I still wasn't 100% trusting.

Hey @Anna Stohlmann - congrats, you've hit that point in your REI journey where traditional mortgage products will not work (unless you bring a ton of cash to the table to reduce LTV).