Quote from @Lisa Albright: Hi All,Newbie here, just a quick question we are building an addition on our second home, we have a primary residence, and two rental properties.

So the property owner can never sell?

I would reinvest in a another property and use a 1031 exchange to detour taxes.   

We sell the property and each side get their money returned off the top then we split the profits 50/50.

Can your property actually afford a 90% LTV loan at 8+%? 

Sounds like a pretty cool property, good luck!

I have little confidence in turnkey providers, deals are already hard to come by, if they take another 20% cut before.. much better to buy a property from an owner that is in good condition.

Insurance right now is wild, so I'd get a solid broker on your team - I'd be happy to share my contact if that would help.Also, aren't most of the existing insurances shared on the OMs for the properties? 

I’ve had a great experience with Brian Hartsell at key properties for my vegas properties. 

Would a property with 4 bed or 5 bedroom would have a better cash flow ?