Hello -  My husband and I are experience real estate investors, with several LTR/MTR/STR located in Ohio and Geogial,    in 2022,  we purchased a seasonal boutique motel in Western New York.   

Investment Info:Townhouse fix & flip investment. 159 W 129th St is a multi-family building located in the heart of Harlem, New York.

I have pulled a permit for removing a fireplace, but probably would not have but I had a significant remodel going with permits and did not want hassle of him making an issue of removing the fireplace (the inspection for fireplace removal consisted of only verifying gas cap was in visible location, he did not even spray it).

@Ben CallahanRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Our group works with a lot of investor buyers in both locations you mentioned.  

Just the other day I was able to close for a seller who is living in Taiwan and I'm located in Utah.

This can give you a clearer picture of which route is more profitable long-term.Final Thoughts: Given the location and your dad’s construction expertise, holding onto the property and adding an ADU could create a strong cash-flowing asset and increase the property’s value.

Investment Info:Single-family residence fix & flip investment. 12 Lincoln Street is a single-family home located in Sag Harbor, NY 11963.

Actually we have divested 4 of our 8 Self storage locations to get into a better LTV position versus my view of the economic world.  

Learned that I needed a realtor that was local to the property location.