Buying into existing tenants can be very risky.

You may be able to just add a sub panel or move some existing circuits to tandem breakers to create space.

I'm trying to decide between building an Accessory Dwelling Unit (ADU) on my existing property (secured permit) and investing in a rental property in a cheaper market.

@Justin Whitfield I’d first forget about FiRE status - it doesn’t really exist without large trade offs that you’re likely not willing to make.

I’m creating policies and procedures now and I’m on a quest to find the things that landlords don’t seem to appreciate from other existing property management companies, so that I can build being different into mine.

Renovation PlanScope of Work:Convert 0.5 Bath to Full BathEstimated Cost: $7,500Details: Add shower or bathtub, update fixtures, ensure proper plumbing.Add Bedroom in BasementEstimated Cost: $15,000Details: Install egress window, insulate, add walls, flooring, and electrical work.Replace DeckEstimated Cost: $3,000Details: Replace existing 8'x10' deck with new one.General UpdatesEstimated Cost: $45,000Details: Update kitchen, bathrooms, flooring, paint, fixtures, and necessary repairs.Total Renovation Costs: $70,5004.

I have no driveway so I put a down-payment on an asphalt driveway.

This policy will provide additional coverage above what your existing policy covers.

Investors, both local and remote, like the Pittsburgh market as it's often more affordable than other saturated markets.

Often, they simply re-hire existing talent that have already been working on these farms for many years, just under new, better-capitalized management.