Once the account is size-able, then you can consider some buy and holds. 

In the meantime, we're wondering if it would make sense to (1) remodel the house to increase its size to 1100 sqft and turn it into a 3bed/2bath, (2) turn a detached garage on the parcel into a 2bed/1bath ADU and (3) build a JADU under the main house (or finish and expand the house downstairs).

Often time a lot with have a zoning stipulation that you can only build one residential dwelling on the lot, however it does depend on the size of the lot.

These regulations can specify the type of structures that can be built, the size and location of buildings, and the activities that are permitted on the property.

It's a nice town with moderately sized single family homes.

A good GC should be doing this, but if they are not detail oriented, it may fall on the customer to make sure the details are there.It's so important to be ultra specific when writing a Scope Of Work and Contract for a construction project - of any size, even a small job can go south without the specifics being spelled out clearly. 

You also have the ability to go through an LLC if that is the route you want to take and do not have a cap on size/concentration limits.

This improvement suggests a growing buyer interest and possibly limited inventory, creating favorable conditions for quick turnovers.Toledo OH - RE Analysis (April 2024) - House Sales (1).pdfDemographics and Economic FactorsPopulation and Economic CharacteristicsPopulation Size: With a smaller population of 5,341, 43620 offers less competition in buying and selling, which is beneficial for flippers targeting niche market needs.Income Levels: The lower median household income ($27,442) suggests a demand for affordable, refurbished homes—ideal for flipping projects aimed at cost-sensitive buyers.Housing and Ownership TrendsRenter-Occupied Properties: A high percentage (68%) of renter-occupied properties indicates a transient population, potentially less targeted for flipping.

This is a huge challenge even for us, a medium-size Property Manager.  

Great to buy homes for $50K if they cash flow but just keep in mind your setting yourself up for a difficult path if you plan to take any cash out down the road based on minimum loan size/Max 75% LTV guide lines.