Some need new furnaces, flooring, and paint.

If you plan to buy in your hometown, buy a 2-4 unit, and live in one of the units.

My plan is to start house hacking.

Key updates included kitchen and bathroom remodels, new flooring, and enhancing curb appeal.

@Matthew Posteraro That's a solid plan.

But timing and planning are crucial.Here's what you need to consider:Future Passive Income: Do you expect to generate passive income from other sources?

Upgrading isn't worth it if you are planning to rent it out(generally) unless you were planning on doing a refi or sell it.

Quote from @Daniel Tanasa: Another option is to get a small cash out refinance from the house you plan on fixing up, if is in financeable condition, and use that to fix it up, while still cash flowing.

I’m at the very beginning of my REI journey and I would love some guidance on how I can best optimize my planning, research and saving phase (which I’m dedicating 2025 to).

For my rehabs, I pull owner builder permits where needed even for work done by licensed contractors.My jurisdiction does not require permits for cabinets, counters, or flooring replacement.