The property was in a great market but needed a full cosmetic rehab and basement finish to add a bedroom and increase resale value.

A high property tax rate will increase the taxes more quickly as a percentage of total expenses when the property value increases.

If you could buy it with a 15% discount: $60,000And rent discount at $2200 mo. with a 5% increase annually would be: $132,615 for 5 yearsYou would be buying the home at a 48% discount in this example.

I think it is important to increase my ability to provide cash flow outside of real estate.

Remember, the notion of amassing wealth without investing is a dangerous myth perpetuated by self-proclaimed experts.

Right now, my focus is on leveraging my degree and skills to land a higher-paying job, increase my annual income, and ultimately grow my net worth.Real estate has always been something I’ve been interested in, and my long-term goal is to start investing in both real estate and retirement to build financial security.

Make no mistake it isn’t quick or especially comfortable but it can definitely be profitable.As for the rent a room thing in most locales I have to wonder if the additional rent is worth the hassles of dealing with the increased time and liability of multiple tenants in one property but that’s a totally different conversation. 

From the commercial side you have more ability to force appreciation by increasing the NOI. 

For example, the seller could receive a percentage (say 10-15%) of the $150K equity increase upon refi. 

Hi @Robert B Azimi,A home that has been registered through The Mills Act, can be rented out the same as any other property, and it can even increase rental revenue as there are people who really like the thought of living in a historic house.