Good luck with your investing and feel free to reach out if you have any questions or if you need any help underwriting a certain deal.  

But, these broad market studies are so large, they are almost meaningless, in the real world.Between glut of new supply in many "hot" markets coming online, a continually softening economic outlook, inflation over last couple years making day to day items feel cost prohibitive, many average renters are strapped and seeking lower cost housing.  

Curb appeal for higher-end properties will be much more important, especially when it comes to marketing - most ads and main listing photos feature the front of the property.In this case, I would consult with a professional - i.e. landscape designer or stager.

This would likely take coordination with a tenant at some point - (ie - plenty of notice to them that they must vacate in order for you to sell the property)Since your current home is free and clear -  you could do a cash out refi or take out a new mortgage on the new house to be able to buy your paren't house and pay off the mortgage.  

If anyone has any questions feel free to ask away.

If its four months from now, then explain to him he's going to be evicted, will have a record, and it will go to collections for all court costs and rent money owed, to the penny.

Covering the mortgage isn’t an issue, but I’m considering factors like: Multi-Family: House hacking would help offset costs right away, but I’d likely need to put money into renovations upfront.Single-Family: Easier move-in with no immediate renovations needed, plus potentially lower tenant turnover once I rent it out For those who have been in a similar situation, what did you choose and why?

For me, if I make $1500 net per month on a free and clear property I would make $18,000 / year.  

The best place to start is with a spreadsheet that has every every cost itemized. 

For these, costs tend to double across the board, especially for older buildings.