Prices are still considerably higher than just a few years ago.

I’m looking to access some of the equity in the home to buy out my ex-partner, and my goal is to either convert the house into a multifamily property or add a dwelling unit (ADU).I’d love to hear any advice from the community on the best way to approach this, particularly in terms of financing options, legal considerations, or any similar projects you've completed.

If you already took all of this into consideration in your math, well.

Let's say there's 3 properties in a 1-mile radius with 5b/3b, but one is a foreclosure and the other 2 are regular conventional sales.If you're doing a comp for your subject (4th) property, do you have to take the foreclosure one into consideration?

I will take this into consideration and if possible I'll visit whenever I can.Also, thanks for the connection with Elenis, I will reach out and maybe we will work together.Do you have properties in the area?

Considerations.1.  

If this is your first property, you could consider starting with a smaller apartment building and going after the opportunity first, and the property as a secondary consideration.

@Marc ZakThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

If someone is willing to live in and renovate the 2 of last 5 year capital gains exclusion is a significant consideration.

I don’t know  the specific details of your situation, but there are other considerations and options as well.