Additionally, I created MEC (Material Estimator Calculator), a unique residential renovation software that automatically calculates a bill of materials (BOM) based on the property’s condition.Overall, I’m thrilled to escape the Seattle rain and connect with fellow investors here in Arizona.

@Derick JenningsRecommend 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?

You can create equity through renovations as you live in it.Its all about leverage. 

The 558k in equity could be your down payment and renovation budget for your next property or properties.Use tax strategies on your existing property to offset your W2 income and keep more of your paycheck now.I don't think this needs to be an either-or approach.

Well 50% is a bit much, IF you renovated properly.

Or you'll have to do really costly renovations with proper permitting-- i.e take a 3/1 to a 4/3 to a neighborhood that seeks such size. 

@Melissa SejourRecommend 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?

@Logan RheaReasonable budget for a cosmetic only renovation of that size.

I have renovated my own home (which I now rent out), and I've begun the process of building my DREAM community - a pocket neighborhood in the foothills of Colorado.

I renovated the shop house and rented it out.