It's also worth mentioning that it's better to consult the CPA BEFORE you make a major decision (buying, selling, converting to rental, etc), since that's when you still have the opportunity to strategize and structure the transaction in the most tax-advantageous way. 

Hi Elvis,You will need to fill out a construction permit if you are doing a major renovation, which requires an inspection from the city to ensure the code is followed.

Majority of communities (both SFH and condos) have HOA's which prevent it.

@Matthew Sarro - It sounds like you've got a solid handle on your finances, especially with no major debts hanging over your head.

Have you ever had to deal with major delays in a renovation project, and how did you manage the situation?

✅ Low operating costs✅ Low crime rate✅ Low risk of a natural disaster✅ Sufficient population to have economic stability, major highways, and a major airport.

Disappointment is a major part of Real Estate success.

It wasn't in awesome shape when I bought it, but nothing major or urgent to fix. 

Vacancy has been on all major platforms and also I have done a large amount of our reach in the area still no interested.

Basically, have your organizational documents in order, sign contracts and other legal documents with your name AND title (either Manager, Member, or Managing Member) and if a multi member LLC have an LLC resolution drafted and executed for major decisions.