Currently I am looking to buy and hold for the long-term with the goal of being free and clear by the time I retire ~20 yrs. 

Hi guys! I wanted to share what just happened with me these last couple of months, and could desperately use some guidance to get back on track. First and foremost, hello to you all! My name is Dean and i'm a 22 year ...

Most from the BP community understand wealth is not created by just saving and investing (e.g. traditional 401K) unless you are able to start very young and just do it consistently for 30-40 yrs. 

That's not exactly an up and coming area -- I'd research who built them - can likely find that by going to the SG County Recorded Docs site or by seeing who pulled the permits during const -- Wichita has been on a duplex building boom -- look at the tax value -- They probably have that or less in it on the build - I also doubt they were built to be quality long term -- things such as the trim/cabinets etc -- they all look like the cheapest stuff a guy could buy - if the cabinets aren't oak and there is MDF or pine trim and pre-hung doors with engineered wood jams I'd run.  2-3 yrs ago for $180k -205 or so you could buy duplexes in Maize, Kechi, Valley center all day to builders that were selling them off to investors - not worth that in that area.

My first property has appreciated from $138,100 to around $185,000 since I bought it 3 yrs ago.

If the home is 100 yrs old, I'm assuming it's a definite gut which is going to require new plumbing, electrical, heating, cosmetics.I spent about $140K reno on my multi family in the heights on NY ave and there were massive problems with it but it was a gut to 3 units & adding 2 bathrooms, 3 brand new kitchens 4 bathroom reno in total, all new flooring, sheetrock , insulation, framing, doors, electrical, plumbing, paint, parts of roof etc.

At the end of the day, a lot of people are not buying based on the long-term fundamentals that used to make real estate a great investment 15-20-40 yrs ago.  

Regards, RuiThe numbers are in fact super attractive. its almost 2x what I get from Lisbon South Bay area (where I started investing 3 yrs ago).

It's not a get rich quick scheme, it's a lot of active work and I would have 5 yrs in my head at a minimum before you truly become established and stabilized. 

The NPV benefit of shielding income will be substantial 10 yrs down the line.