Meaning you can add another unit to your existing structure and 2 more units on the new subdivided lot.

Additionally, if your goal is to maximize personal financial benefits, consider profit distributions from the property-owning LLC, which may provide tax flexibility depending on your situation.By adhering to FMV, maintaining proper documentation, and structuring the lease agreement carefully, you can optimize tax benefits while staying compliant.This post does not create a CPA-Client relationship.

RW's fee structure is interesting because it's a "look over HERE, not over THERE" approach. 

So, if you have 10 units and you are going to pay $1,500 a month and you are working on an active income job, too, this is an easy switch due to the labor mentally and physically (even if it is just phone calls) to get these rentals running as a well-oiled machine.  

Also, prioritize repairs over aesthetics if anything structural or foundational needs attention.

I wonder how they are structuring these ? 

Depending on the severity of smoke damage and structural issues, it could be a huge challenge for first time flip.

Since you're not looking to make it a full-time career, you might consider passive investment options such as investing in real estate syndications - this GP/LP structure as a limited partner, allowing the GP to earn you a return allows you to invest in real estate without the day-to-day responsibilities.

If it crashes hard enough, it impacts your personal finances, your relationships, and even your mental/physical health.With the exceptions of politicians and so-called charities, building wealth typically requires sacrifice and time.

How are deals like this usually structured?