Are you planning on eventually selling them as condos?

Estate Planning and Wealth Transfer: If you're building a portfolio to pass down to your family, life insurance ensured your heirs inherit your properties without the burden of estate taxes or forced sales to cover expenses. 3.

It's not worth it if the local ordinances don't support your plan. 

All new flooring, bathroom remodel, paint and drywall in the bedrooms.

In the next 5-10 years, I plan to leave my current industry and transition to real estate full-time, so I’m especially interested in how this could impact that goal.Current FinancialsRoth 401(k) Balance: $105KContributions: $79KEarnings: $23.5KSalary: $109KContributing 6% annually ($545/month), with a 100% match for the first 3%Investment Growth Assumption: 8% per yearCurrent Rental Cash Flow (Pure Profit After All Expenses): $7,500/month (9 units)Potential New Property Cash Flow (Pure Profit After All Expenses): $1,300/monthCurrent Real Estate Portfolio Value: $1.4MAfter New Property: $1.7MWithdrawal Breakdown ($60K)Tax-Free Contributions: $45KTaxed Earnings: $13.4KWhy Only $13.4K Is Taxed and PenalizedMy Roth 401(k) balance is made up of:Total Balance: $105KContributions: $79K (75.24% of total)Earnings: $23.5K (22.38% of total)When withdrawing, the money comes out proportionally from contributions and earnings.

My mom was shopping an estate sale when the owner told her he was planning on selling the property.

I would just make sure to call the city and let them know your plans in full detail to make sure that you can do it.  

Highly possible prices won't hit their floor until 2027-28.

We are planning for a HELOC to support our purchase of a new home.

Discuss plan with Planning Zoning group.3.