*Note that we interchangeably use the labels: Lodging House = Rooming House = Single-Room Occupancy (SRO) = Co-Housing PropertyThe building has 3 kitchens and 4 full bathrooms, on 4 floors:3rd floor: The 3rdfloor is ‘off-limits’ to the 1st and 2nd floor tenants, so the two 3rd floor tenants enjoy the exclusivity of their own entrance, and a kitchen and bath shared only with one other unit, plus some distant ocean and Boston skyline views.2nd & 1st floors: Eleven units share 1 kitchen and 2 full bathrooms, one on each floor.

Once you own a million in real estate you are in the game in a material way that can change your life in the not to distant future.Best of luck, go make it happen!

If the subject property is in an area that is highly desirable and the there are no rental comps, the data will be pulled from a distant location that may not be relevant. 

It would be one thing if I was distant from the property but having them on my property is exhausting.What’s the best way to deal with this, do I:1.

All of this can be pretty scary for a newbie, so just hearing from people who have been successful is very motivational and inspires me to keep going.Your story sounds very similar to where I'd want to be in the not too distant future.

Cypress is family-oriented but distant from downtown.

Quote from @Jackson Ebersole: Hi Piper,It's always smart to flip properties in-state, and I'd like to share some updated insights on why this approach is beneficial, especially in the New Jersey area.Lenders typically feel more comfortable with in-state flips because:You can manage the rehab more easilyYou have better knowledge of local real estate trends and valuesYou can respond quickly to issues or make decisions fasterThere's a lower risk of fraud or being taken advantage of by distant partnersI can help you with recommendations for the New Jersey market:North Bergen: Continues to show strong potential, with average profits now around $150,000 per flip and a gross ROI of 85%.Willingboro: While specific flip numbers aren't available, the market remains active with a gross ROI now averaging around 130%.Gloucester City: Still a top performer, with gross ROI hovering around 180-190%, though still on smaller profit margins.Irvington: Home values have continued to rise, with a 20% increase over the past two years.East Orange: Has seen steady growth, with home values up by about 16% since 2022.Paterson: Experienced a 14% increase in home values over the last two years.Additionally, Jersey City and Newark have emerged as promising markets for flips, with strong appreciation rates and growing demand.

I'm 23 years old and plan to use real estate for my retirement, but that's in the distant future.My question is whether it's better to pay off the mortgage as quickly as possible or to buy a rental property as soon as possible.My thoughts are that if I pay off my home, I'll have security and more money each month to invest, as I won't have to make mortgage or rent payments.

I do think it is likely that f/f rules will be changed to allow multiple ADUs in the not too distant future.  

I'm sort of the opposite, especially for folks that are geographically distant to their properties.