@Celine Besson there will be several challenges:1) Finding a Grate Property Management Company. - See our copy & paste advice at the bottom of this response.2) Managing the Renovation- Everyone thinks a PMC can easily do this. 

Natural appreciation usually takes holding the property for at least a few years (just depending on what the RE market does going forward).  

Value and rents should eventually increase to turn cashflow positive and build your wealth.You're next learning experience will be, now that you are out of day-to-day management, how will you be able to handle the inevitable expense challenges?

2024 will go down as, "The Year of Taking Action".Getting back in the game came with some challenges.

Challenges?

By year end I will tackle a MF, value add with my son that would be sweet if we can swing the coop/tic (handling the finance challenges is the hurdle) so he ends up with a unit at below 50% of retail.  

Any unique challenges?

The challenge for me will be to attempt to mirror this type of financing approach to Southern Calif. real estate. 

Hi all,We are facing significant challenges with a tenant in our 'rent-by-room' property.

That is actually still challenging enough, as many clients have told us - in hindsight they were glad we talked them out of a full-blown rehab.