If you are open to value add strategy, small multis have potential for not only traditional forced appreciation but also the ability to see major rent increases.  

The two-family property now has better curb appeal and the rental units are much more desirable, which has helped me increase my rental income.

When they started screwing with us last week about appraisals and then having to give them an ‘after reno’ price for the house when they had no idea what we were doing the house to increase its value, I did mention to the partners I thought we’d been scammed.

This is an okay fix for now, next step I am looking at checkbook control to increase flexibility. 

@Paul Whitney Detroit property values increased over 20% in 2024:https://detroitmi.gov/news/detroit-home-values-increased-ave...https://www.cbsnews.com/detroit/news/detroit-home-prices-amo...https://www.detroitnews.com/story/news/local/detroit-city/20...DM us if you'd like more info...

I think it is great you obtained those lots at that excellent price and want to increase the value. 

Hi @Brendan Jones I moved to Nashville in late 2021 to begin my homeownership and investing career, buying a primary residence, house-hacking it, and transitioning to a long-term rental once I bought my next property (also in Nashville) so would be happy to share my experiences.There is a lot of interest in STRs in the Nashville Metro area, but the zoning has become increasingly strict over the years.

The return of installing one is not 1 to 1 but will increase your properties value. 

Assuming you go the HELOC route, another option to reduce your costs assuming you have decent credit is to look at credit card balance transfer promotions.Back in 2003-2004 I had HELOCs on my investment properties and interest rates were increasing.

What this usually leads to is higher rates and lots of points, which increase the amount of cash needed up front.