My worry is the old house might be too much of a hassle to fix latter down the road and increase rent.my thought are that buying a newer one would save me remodeling hassels.

One had been rented by the same couple for 7 years, one needed to be cleaned and some repairs, and the other had been in the middle of a remodel when the original owner died and his 4 daughters who couldn't agree on what day of the week it was decided to sell.Based on the square footage (2024) alone, I got a great deal. 85,500 with 10% down and 10% interest.

We had the same idea in 2019 while remodeling our first SFH.

1. use the 1031 money to buy 2 investment properties with a combined values >= the sales price2. use the 1031 money to improve one of my existing investment properties (e.g. building an ADU / remodeling)Thanks

Hello All,I am a remodel contractor and have moved into flipping homes especially in the higher end nieghborhoods like N.

But a couple of years ago (2020) we refi'd the houses we've had a long time, bought another and remodeled it with the intention of making it an airbnb ----and the time and effort put into that remodel made me question what I was doing with these houses. 

Roughly a 1300 profit after taxes etc etc. last year was a down year due to evictions and remodeling. this home is on a conventional loan.

I would be leery of going this route unless you are very confident of your numbers.good luck  Also just adding to the last post, I did some compare on the quality of the other closed units, might was much better since it is just remodeled, but still they do get more tractions than I do, SO I was thinking it is marketing issue.

@Luke Bricca  I am or was a GC and can see about 20k coming into a simple remodeling project.

No formula can be accurate across the board because even “cookie cutter” properties next store to each other differ as to view, location to the street, topography of the land, lot size, physical condition of the property, past remodeling, quality of the mechanical systems, sunlight, utility bills, past use, etc.