And, if you’ve been in your house for a few years (or longer), there’s a good chance you’re sitting on a pile of equity — maybe even more than you realize.What Is Home Equity?

Property ClassProperties are categorized by class, impacting their quality, condition, and investment profile:Class A: High-end, newly built, prime locations, attractive to institutional investors.Class B: Good quality, older than Class A, with minor deferred maintenance.Class C: Older properties with dated amenities, but value-add opportunities exist.Class D: Distressed properties in less desirable locations with high risks but potential for significant improvement.4.

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To maximize your chances of success, recommend sharing that and the percent increase in taxes & ins with tenant and asking them what they think a fair increase is.- If they say $0-$50, you'll have to get rid of them at end of current lease.- If they are more reasonable you may want to accept if for now, but let them know you'd be doing regular increases to get the rent more inline with market rent.Too many newbies here will tell you to get market rent or get rid of the tenant.

The market around Gary, IN has been improving.

Over time, rents may increase, improving your cash flow, and you’ll gain equity and valuable experience managing tenants and property operations.

@Joshua Christensen wouldn't expenses naturally be less if the seller's just spent about $75,000k on cap ex improvements? 

And how can we align our approach to meet those expectations and improve our chances of securing financing?  

Many municipalities allow appeals, and the savings can be substantial if successful.Pro Tip: Work with a tax advisor or attorney familiar with local property tax laws to improve your chances of winning an appeal.2.

Choose the Right Property:When choosing a house to flip, search for properties in desirable neighborhoods that need structural or cosmetic improvements.