Most properties seem to be overpriced, often listed by pro investors trying to unload them, and have been sitting on the market for six months or longer.While I could put 50% down to make the cash flow work, that approach would likely derail my goal of acquiring four units in four years.

Contacting rentals is a smart approach too, its all really a numbers game

Here’s how I approach niching down to a specific audience:Analyze Your Market DemographicsStart by researching your market to identify who is booking short-term rentals in your area.

He broke down:How to approach larger projects.How to overcome barriers to entry.How to see possibilities that were previously invisible to me.What stood out to me most was the clarity and confidence he brought to the table.

I’m looking to access some of the equity in the home to buy out my ex-partner, and my goal is to either convert the house into a multifamily property or add a dwelling unit (ADU).I’d love to hear any advice from the community on the best way to approach this, particularly in terms of financing options, legal considerations, or any similar projects you've completed.

I would restate that the lease will remain in place until such time that a new tenant is selected and moves into the property.This approach will ensure your cash flow while acknowledging that 'stuff happens.' 

Being 3 units, the valuation will come from comps not from cap rate/ income based approach.

Does this approach seem reasonable, or am I undervaluing the property?

If so, how did you approach it initially?

Focusing on smaller multifamily properties needing light rehab is a smart approach for learning the ropes.