Not to be judgmental but most of the SROs I've seen in our market are not in the best condition...but the same can be said for roommates :)  I think it's better to keep the leases on the same timeline not matter which path you take.

- personally at SMARTLAND as experienced heavy lift multifamily operators - it is a complex process and requires a team, time and skill - Yes, you can lift a property and value moderlty quickly if you have the right tools and process in place, no doubt, but you have to also have the correct financing tools in place and appropriate cost-basis to withstand turbulence along the way - (no straight path) - the short term mezz loans into this constricted/constrained lending environment is tough, even more tough with raising cap rates, market repricing = requires more time to season and continue to hold, unfortunatley as we have discuss to the max on this forum time was not on this operators side with the short term adjustable mezz loan -**Pref Equity has entered many deals in the past 18 months advance of LP positions, also took a GP slice along the way  ---- 

For primary residence #3, we bought in the path of progress; so, not a live in flip per se but similar in that we will get high organic appreciation and also add value through easy rehab such as refinishing floors and railings, replacing fixtures, improving landscaping, upgrading tile, etc.

What is the general learning path?

While the current fiscal trajectory of the country certainly has some issues, this is generally referred to in finance as the “risk-free” rate—and the main economic alternative to mortgage bonds.

That cash flow on paper is non-existent in reality and I don't think the path of gentrification is predictable - will it appreciate enough to make up for all my repairs, etc? 

Trying to put our heads together to figure out the best path forward.

You can do it for sure, but it's not going to be anything like managing your one property.And you've chosen probably the most difficult market in the country to do this in.Yes 25% was WAY high in this market.

In 2022 the rents increased 12.1% year over year which was the 3rd highest in the entire country per https://www.axios.com/local/cleveland/2023/02/14/cleveland-rent-prices.

You will need to pay income tax in the US and your home country based on any profit you make.