We were helping a friend renovate a house which had been home to a heavy smoker: one room was so bad - owner had smoked in the same chair for 30 years - that we had to replace the sheet rock on the walls and ceiling.There have been some studies in the past few years showing that the chemicals from cigarette smoke, even when encapsulated with paint, eventually come to the surface exposing future residents, in particular young children.  

Re-piped the whole property, built a laundry room, expanded the pool deck and added pavers, refenced the property, re-built 2 exterior staircases, re-landscaped, and put in all new cabinets, granite, appliances, LVP flooring, lights, doors, blinds, etc.What was the outcome?

If most of your competition has a pool, I'd go that route and try to add something indoors like a game room.

Hello,I’m a new college who made a goal to buy my first rental property by the time i’m 25 (which would be in 2 years) and am starting my career as a commercial real estate broker in Grand Rapids, MI.

Then, on your taxes, make sure that Schedule E is filled out for the room/unit that you rented.

I would look into buying a condo and renting out the rooms to midterm renter like traveling nurses.

In Seattle, many investors are opting to find properties that have room for ADUs.

Detroit, Metro Detroit, Grand Rapids, Kalamazoo, Muskegon are all great areas to consider. 

Another reason I like having 1 of my rooms be a monthly guest through airbnb.

Lastly, if you plan on spending $1500 or more, take your "shopping list" to the pro desk and have it run through the "bid room".