Only do this if you're prepared to fix whatever else the inspection uncovers, but inspectors are usually helpful and friendly when you ask for the inspection and not from a tenant complaint.

You don't know what you don't know and there is risk involve but I wouldn't let that stop you.Who knows, you may uncover this local bike rental business is more profitable than your local STR and deserves more of your time.  

This includes a reliable real estate agent who uncovers good deals and connects you with experienced property managers, contractors, and lenders, ensuring a smooth experience.

It will uncover code violations and fines that have not been recorded as liens yet.  

For the time being, I plan to use some of what I know to uncover deals and wholesale them to other investors.

@Jay Hinrichs  The dump trailers hold their value . and its so nice to back up at the landfill right next to a guy hand unloading shingles , open the gate and push a button .

Selling now means you could miss out on potential future gains.Market conditions: If the market is currently down, you might not get as much for the property as you would in a stronger market.Option 2: Get a Loan to Fix the BasementPros:Increase property value: Renovating the basement can add significant value to your property, both in terms of rental income and resale value.Higher rental income: With the basement fixed, you can charge market value rent, which could help cover the mortgage, property taxes, and the cost of the loan, with the profit potential.Tax deductions: The cost of renovations can often be deducted from your taxes, either through depreciation or as an immediate expense, depending on the nature of the renovation.Cons:Additional debt: Taking out a loan adds another layer of financial obligation and risk, especially if the increased rent doesn't cover the loan payments.Renovation risks: Renovations can sometimes uncover more issues that need fixing, leading to cost overruns and delays.Market risks: There's no guarantee that the market rent will remain high or that you will find tenants willing to pay the increased rent.Additional Considerations:Current Market Analysis: Understanding the current real estate market in your area is crucial.

DAY 1: FREE FOR ALL MEMBERS: 2024 State of Real Estate, with Dave MeyerDate: Monday, January 29th @ 7PM ESTUnderstand what happened in the real estate market in 2023Learn what to expect from the real estate market in 2024Adjust your investment strategy based on the latest market conditions10 new tactics to drive your investing success in 2024DAY 2: Fantastic Deals and Where to Find Them, with Kathy Fettke and Henry WashingtonDate: Tuesday, January 30th @ 7PM EST Discover Henry's fool-proof strategies for finding killer dealsExplore Kathy's top markets to find deals in in 2024 Understand key migration and development trends to focus your deal-finding effortsDetermine when to confidently jump on a deal and when to "wait it out" DAY 3: Investing in 2024 Panel Date: Wednesday, January 31st @ 7PM EST Learn which certain strategies promise the best returns in 2024Understand when to stick to your strategy and when to pivot your approachDiscover insider tricks to keep your investments safe and profitable in current conditionsFind the best strategies for maximum portfolio growth in 2024 and beyondDAY 4: Uncovering Hidden Value with James DainardDate: Thursday, February 1st @ 7PM ESTBecome a better investor with a confident, value-add mindset that will give you control of your returns even in tough marketsLearn exactly how to create your own equity and cash flow with a low-cost, high return renovation plan Learn to see the value that others can't and confidently buy winning deals with multiple use options and exit strategiesOptimize your existing portfolio's cash flow and equity through strategic construction and rehab👉 Learn more and register here: biggerpockets.com/virtualsummit

Identify a strategy, choose a market that aligns with it, and establish your Core 4.The main challenge I observed is that individuals often lack a clear end goal or strategy, or they select a market that doesn't align with it.Your real estate agent, who plays a key role in uncovering good deals is likely to have some great connections with local property managers, contractors, and lenders.

Join us as we delve deeper into this year’s multifamily market report to uncover the underlying dynamics and explore potential pathways in this evolving market.Multifamily housing starts are hitting decades-long highs, and analysts at Yardi Matrix are forecasting 1.5 million units delivered by 2025.