Hi Lynette, I'm a Managing Partner at a company that does Full-scale flipping, lending, development, and portfolio acquisition, amongst other things! 

As someone else mentioned, insurance here is generally less costly than in Florida and other beach markets. 

Think ADU law changes in CA, and in Austin and other cities. 

I rent out one side and the other I stay in .  

Generally all months other than Sep-Nov are profitable. 

Other places with supply constraints will likely continue to see positive real price growth.

@Nicole ShoafYou are correct and have equity locked up in those units, a good lender can give you options on HELOCs or other loan products that could help get some equity out without selling.

If you plan to grow your portfolio, consider setting up separate LLCs for each property to shield them from liabilities tied to others, though this adds complexity and costs. 

I cant speak for other lenders though. 

We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.