An FHA loan to force appreciation is a smart move, and with $100K saved, you’re in a great spot.

You are likely competing with a lot of unsophisticated buyers who have money and hear owning a 4 plex is a smart investment.5.

It would be smart to do a full lease audit, estoppels issued, and tenant interviews.And if you are buying cash, there is nothing mandatory, since it is your money at risk. but again, physical condition inspections, understanding of tenants (they are a great source of information about issues with the property that the landlord may not know or may not disclose), surveys to understand accurate property lines, etc.

Of course, it's always smart to keep funds aside for unforeseen or emergency related costs.Others who have already responded have provided some great opinions. 

We've since paid off the HELOC, but realistically it wouldn't be smart to rinse-repeat these days as the borrowing market is obviously MUCH different than it was in early 2022 when we started down this road to begin with.

@Eddie Gonnella Also, when you are at such a scale, you may be able to fetch a valuation based off of cap rates, rather than a rev. multiple.So it is possible, and it is smart to think ahead in this situation so you don't get stuck with nothing if you want to exit!

@Hamidou Keita House hacking by converting a single-family to a duplex is a smart strategy, but requires careful planning.Pros: Offset living expenses, higher rental income, increased equity.Cons: Significant conversion costs (permits, construction), zoning restrictions, living in a construction zone, managing two tenants.Key Considerations:Feasibility: Check local zoning and permitting.Costs: Get detailed construction estimates.Market Analysis: Ensure post-conversion rent covers expenses and there's rental demand.Resources: BiggerPockets forums, local contractors, real estate agents.Have you researched your target property's conversion potential?

With smart negotiations and a streamlined process, we capitalized on the opportunity for a quick and profitable turnaround.

If a HELOC isn’t an option due to income requirements, a 1031 exchange into an apartment complex could be a smart move to boost your monthly net cash flow and diversify your portfolio.

This strategy can allow you to scale into a bigger or better-quality property while maximizing your equity.When to Start Looking for PropertiesStarting your search before listing your current property is a smart move.