Toby - getting your license for self representation of you're planning on doing a lot of deals is a good option.1) You have to hang your license with a broker unless you have a brokers license.

@Juliann MoralaA GC is suitable for estimating rehab costs, but consider hiring a property manager or investor-friendly realtor for unbiased opinions.Video Walkthrough – Have them record a wide-angle video of the interior and exterior to capture the whole condition.Floor Plan Mapping – Use an app like MagicPlan to create a detailed floor plan with measurements.Major Systems Check – Roof, foundation, HVAC, plumbing, and electrical—any red flags?

Didn't she have a plan when she bought it?

@Nick Henry this also comes down to how much time you have available and how much effort you are able to put into purchasing a home or building and doing renovations and then finding quality residents to live and take care of your asset.

My plan is to live in one of the units while renting out the others.

.: I just hired an architect to design and plans submit for ADU in my 8 multi unit to use the tuck under parking.Some people say do not try to be the general contractor as it will take way more time, costly mistakes and will be nearly impossible to manage with current work. best to hire a company that will do it all and cost about $250 per square foot.

The bank will make you leave 25% equity in the property - but you also still want the property to at least cash flow some - so be careful how much equity you pull out / new debt you take on.I would do a cost benefit analysis of what your actual gain is in cash-flow on buying a new property with a (currently) higher interest rate (if financing), versus just holding on to the current appreciated property and enjoying that cash flow.All the best!

✅= You're probably fineWhat Gets You in Trouble:Can't explain structureHidden arrangementsToo good to be true tax benefitsPartner disputesBottom Line:IRS cares about substance over form.

As long as no “healthcare” services are provided (like medication or personal care), it’s not regulated by the Department of Health.

It sounds like you might be in the situation I'm in: buying a vacation home that I plan to use as a STR when I'm not using it so that other people can help pay my mortgage.