However, it’s important to remember that this fear stems from the unknown.

I think that’s what holds people back most- fear due to the unknown and basic lack of knowledge. 

There is a primary outstanding mortgage on it (unknown outstanding balance, terms, etc.).

But I predict higher housing prices to account for the now unknown buyer side. 

Considering the potential for unexpected costs, especially with the unpermitted addition and the need for significant updates like roofing and windows, the profit margin seems tight.IDK, the significant dip into your savings for a project with many unknowns could strain your safety net.

The main unknown: the logistics/cost of running individual gas lines to each unit and giving each a separate gas meter.

Regardless of the many systems and procedures we have in place at FlipSystem and MartelTurnkey, there is admittedly still inherent risk and unknowns to any type of real estate investing (at least the ones that have the potential to generate more than a couple % return a year like most of our successful students do).

MTM tenants with unknown history.

I absolutely think joining your local REIA is a great strategy to learn, network, raise money, and have fun with other investors, but for myself and the clients of MartelTurnkey and FlipSystem, most of them have decided it makes more financial sense to invest in places they do not live.We are transparent with our clients about the costs before they join, and there is no additional unknown “upselling” as you suggested.

While the added bathroom is possible, it’s a lot of cash up front and comes with some hefty risks and unknowns in comparison to the ease and appreciation possible with only adding a bedroom.