Ideally, I would love to buy a multi-family property and rent it out, I would consider house hacking but I mainly want to my first property to be one that I can improve on and have it generate income for me.

However, high property taxes and rising values can pose challenges.

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I’d recommend starting with local value-add deals to get a feel for the challenges of managing rehab projects.

Theres wholesalers everywhere, margins are tight though and that's a challenging area.

@Don Konipol, I guess my only real challenge to your thoughts are the definition of investments.  

This structure offers liability protection, scalability, and tax benefits but involves administrative complexity, potential California franchise tax if managed there, and refinancing challenges due to personal guarantees.

.- You can improve your search by only looking in R2+ zoned areas.- Will still be challenging to acquire a SFR at a low enough price to justify the cost of any conversion.Regarding Michigan property taxes, we have a one-page explanation document we'll share if you DM us. - The challenge in Detroit is that the city is "deliberately" keeping SEVs low to not scare investors away over property tax increases.

Long term I see entire neighbors improve for their betterment because of rising prices and the very hard work of those buyers.

Hostaway seems interesting as potentially something with the power of Ownerrez but without the challenging interface and complexity.