We are now upon April 2024, and at the rate things have been going, still have a ways to go (finish ducting for forced hot air, insulation, sheet rock, paint, flooring, kitchens, bathrooms, finishes, and anything I am missing to bring the units to whole).

I feel that I have more control with real estate: picking the location, the property, contractors, property manager, can value add with adding a room, kitchen/bathroom upgrades, etc.

I purchased a 1 BR 900sqft condo in 2021 with a depreciable tax basis of ~$275k and spent most of 2021 and first half of 2022 renovating the property (new appliances, flooring, painting, furniture, bathroom renovation, new kitchen countertops, new electric heaters, insulation, fireplace/pellet stove).

This might entail making improvements to curb appeal, kitchens, and bathrooms in order to draw in better renters and raise rents.Long-Term Appreciation: Take into account real estate in communities that may see long-term growth.

Items like kitchens, bathrooms, convenient laundry, nice flooring are most likely to catch the eyes of renters and can justify market or slightly higher than market rent.

This rehab removes and adds walls, adds new porch, adds a bathroom, new layout of existing bathroom, new kitchen, flooring, HVAC.  

We made the kitchen floor from scratch and added a new atrium and stream.

At least here in Denver and Colorado Springs, there are certainly homes woth walk-out basements that could be rented out, but there's also a style of home from late '50s, early '60s that have a back door that goes straight down into the basement or turns into the kitchen.

Drawer was rotten and had to be cut out. 3. kitchen sink - there was a leak they never reported. 

Setting the timer now . . . . :-)Alison