I've been approached by a couple of sober living facilities and would perhaps prefer an independent living provider if possible (with 4 units in Cape Coral it's categorized as commercial so all ADA requirements, fire safety, etc. have been provided).

I have $1.5M in the bank, and I’m trying to figure out the best move for my situation to start building out my portfolio and making moves towards financial independence.

I should hopefully have an independent appraisal  within the next few days.HELOC will be from primary residence. 

Similarly, Houston has published statistics to highlight concerns with STRs: the city counts 10,545 short-term rentals and has logged 7,789 non-emergency 311 calls along with 61,167 emergency 911 calls within 300 feet of these properties from June 2023 to June 2024.

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.

I have $1.5M in the bank, and I’m trying to figure out the best move for my situation to start building out my portfolio and making moves towards financial independence.

Take a look at BP's blog where new articles are published every day: https://www.biggerpockets.com/blog4.

@Teekap Pate Try an independent insurance company located close to the property.

AirDNA et al are publishing occupancy data that’s wildly inaccurate because they cannot account for owner versus rental occupancy. # listings have exploded post-COVID: too much NY/NJ capital with no where else to go.