Update to this post:  Tony Viola was exonerated and never originated mortgages. 

If you can continue to renovate the 1st and 2nd floors, that is when I would update the plumbing and copper in those units.We may have a plumber who would work in that area...happy to share a contact with you.

A few of the more "out in left field"  messages include someone double messaging me within a 24 hour time period asking if I'm interesting in investing in STRs - my answer is no and I think that's a bit aggressive, not even giving me a day or two to reply to the first DM.

Rent growth did help with deals continuing to meet the 1% rule though.Similar to your deal that was just shy of a 1% rule when you bought it, it sounds like you have had many major updates to do to each unit as tenants have moved out to get them to market rents.

Considering the high prices of other lots in the area, many have said I got a great deal.The land I bought has a 2-bedroom, 1-bath house that was listed as 550 sqft but is actually 750 sqft; the records just weren't updated with the city.

Should be updated now.

Hi all,I've been trying to find updates of the 1% rule and whether it's working in 2024, specifically when you're using a mortgage at 80% LTV, 30-year mortgage.

Duplexes can be a fantastic way to generate cash flow-just watch zoning laws, hire reliable contractors, and stay updated on rental trends.

It’s also not as cost effective to just upgrade one unit when it’s vacant because then you lose economies of scale and in the instance of materials things may not be available over an extended period of time and you may end up with mismatched windows or something.

Any updates on your project?