@Frankie Lotrec if you have an existing loan on the property and you plan to legally convert from a 4 unit to 5 unit , you should check the loan documents because you’d essentially be converting it to a commercial property, since 5+ units is considered commercial and subject to different appraisal approaches and so it would rule out the property being considered for purchasers utilizing residential financing.  

Commercial or residential property? 

No one accountant is an expert in all areas in the tax code, so best to figure out what you want first in the world of real estate and then dive deeper there. 

Start by reading the Ultimate Real Estate Investing Guide: https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide/introduction2.

Detroit has a lot of real estate investor meetups that you can locate in the events forum here and on meetup dot com.

I am thinking about doing this full time and was wondering if there was a coach/professional i could speak with to give me an honest assessment on my current real estate portfolio?

I own a commercial unit, and I’m trying to determine a fair rental rate for the space.

Here, we got a ton in the hood, which there is no real demand for anything to be developed, so these buildings are generally worth very very little.

I enjoy owning it.Do you invest in real estate to make a profit or solely for the enjoyment? 

I changed my major from Accounting to Real Estate back in 2018 when I was attending Glendale Community College.