Yeah, it's an interesting model--I can see how it could work really well in some scenarios and not work at all in others. ...for one thing, you have to use furnishings that in-line with the look and grade of the property, and which are appealing to the typical tenant--which I'm sure can be a bit hit and miss...   ...I suppose that one hidden benefit with a furnished unit is that you don't have so much wear and tear from tenants moving furniture in and out, hanging pictures on the walls, etc....I just finished a rehab at a LTR property--the tenants were pretty good and didn't cause any excessive wear/damage, but even then, there's always a lot of patching and re-painting that needs to be done after long term tenants leave....

I later learned that it may be possible to split the lot through an SB-9 lot split which may optimize the value creation.I would love to connect with community members who are planning / in the process / or have finished an SB-9 lot split!

Purchase price: $95,000 Cash invested: $60,000 Sale price: $200,000 Bought a great cabin in the mountains that needed a new septic system and brand new finishings.

And once I finish the due diligence, my work is done: it's completely passive.

I have the following case, numbers are made up, but the situation is real.I purchased a house in 2021, rented it out, in 2022 I demoed it and build new, finished construction in January 2023 and rented out almost immediately.In 2021 the structure costed 100000In 2023 new build structure costed 200000, i.e.

The difference is the land and finishes.

It is half below grade and very well finished with 3 egress windows. )Cost: $300k (contract) (Appraisal by the bank:$282K)Rent: Long-term rental: If I only rent 2 legal units min rent is $3200, if I rent all 3 units min rent is, $4K. 

I've been doing the deep dive on the podcasts and about to finish Brandon's book on Real Estate Investing.

We plan to take out a wall and add an island to open the kitchen up, take the carpet out of the bathrooms (yes, really), replace most of the flooring, finish the 4th bedroom and the rest of the basement, and various other minor updates.

I also put all of the materials for the project on credit cards (don't recommend) so I was about $30,000 in credit card debt before I finished and paid off my debts.