Also, before you buy another property you'll want to determine your ideal next property - meaning, will it be a "rent ready" house, a major renovation project, or somewhere in between.

@Matthew DrouinThe one I'm looking at right now is a smaller 8-unit project - only around a $100-125k equity raise + loan guarantee.

Old post but I figure I would comment here... my Company, Maven Cost Segregation has done studies on projects like this.

My rule of thumb when walking with contractors is if they talk more about themselves and past projects compared to what they will do on this project thats a hard no. 

Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).

Success:  Signing a deal with First WatchFailure: Bought a retail condo, not realizing the low ceilings were such a deal breaker for a lot of tenants.Pain: A lot of turnover this year, especially in light industrialAha moment:  Mortgage note investing needs to be a larger part of my portfolio2025 Goals: Less Investing and more pickleball!

Since house flipping has become so popular over the past few years, it's never been more critical to give your projects that extra *POP* that homebuyers will notice as they're swiping through Zillow. 

South End is great for appreciation-driven investors who want to be close to the action.NoDa (North Davidson): The artsy vibe and walkability have made NoDa a magnet for young professionals, driving appreciation in this district.Kannapolis: Known for ongoing revitalization projects, Kannapolis is positioned for appreciation.

I am thinking of that being one of my next big projects if the community is wanting it. 

is it enough to carry you into your next projects while maintaining enough access to keep your current real estate operating smoothly?