Flipping is probably a little more intense, but can still be done with a day job, but again, my average flip versus my average rental: flip has made much better returns.And as for generational wealth and handing down something to your kids... well, I guess I view it as: if I can hand my kids a $10mm trust fund held in public securities, or $10mm real estate portfolio, they are going to be pretty set either way, but a real estate portfolio will continually have costs and work, a brokerage account is a bit more set and forget, with some periodic rebalancing.

You're increasing the need for hot and cold air dramatically and it's doubtful the existing system will be adequate.But, in answer to your original question - yes you will need a permit.

They have ghetto Class Ds in Texas and Philly, a REIT, working farms, an operating golf club, apartment complexes, cryptocurrency... it's almost like whenever a very hot prospect gets through all their different asset classes, they simply invent another one.

Spokane has been a hot market for investing for awhile and local meetups and Facebook groups will be able to provide you the best information about what's working in your local market as well as any specific market risks / challenges.John

Quote from @Matthew Kwan: For those who are currently shopping or looking for a loan since rate cuts has been a hot topic.

I primarily work with out-of-state investors and they love investing here for both cashflow and intense appreciation. 

I'm still new at this, but from what I've read and heard speaking to a seller who's note you're considering buying before you own it is a big no no and could get you in legal hot water.

One client came in hot looking for a multi-unit in Phoenix - they wanted to roll over gains, keep taxes deferred, and jump into a hotter market.

If you have a 6 bedroom in an area that does not have a university (students looking for shared space) or is in a family friendly place it may sit vacant longer between tenants.For Capex, try not to use a generic number - look at the roof, furnace, hot water tank, kitchen - when will each need to be done and what will it cost?

Sponsor vetting seems to be quite intense but necessary.