I'm trying to figure out a way to utilize a large storage building at one of my MTR listings in Memphis.

They said we have to build new walls because the old walls are directly on the concrete, and this is not allowed.

this is a direct relation to lack of inventory.. new construction on many markets is as robust as its ever been.. we have had spectacular years the last 3 years of course during covid was tough with supply chains but my 500k house I am now selling for 700k and my build cost have gone up by maybe 100k.. so record profits for us.. 

Personally, If I could pull out a HELOC, I would use it to fix and flip which will typically make sense as you shouldnt be keeping the money out for that long and you can recycle it or pay it back and build off the capital that you got from. the flip.

I guess my goal is to figure out my next steps and get a clearer picture of how I can break into the real estate world and start building something for the future.Thank you.

My goal is to build a portfolio of single family and multi family properties. 

Things just require more ongoing expenses percentage wise out of state because you have to pay people to do everything for you and you will have a longer time building relationships with vendors even when getting decent referrals. 

Start by leveraging your skills to identify undervalued properties, perform cost-efficient renovations, and build sweat equity.

You will need to look at CA building code.

Glad you are setting aside money, but if the HVAC is 20 years old, or the septic system has never been pumped, or the roof is 25 years old, etc; you will get hit with a cost before your build up enough set aside.How stable is the other tenant?