A basement conversion could make sense (either STR or LTR depending on how much work/headaches you are willing to take on).

Until we speak further and dive deeper into their "why."  

You must find the best suit and drill one hole deeper and deeper and become the king of the hole.The reason is how any of these platforms work.

Hi all,After lengthy conversations with our hired prop mgmt company, I'm coming to this group for more guidance.Location: Denver, COProperty: LTR ending July 2025.

Quote from @Bob Dole: Funny, my CPA called me yesterday to discuss the cost segregation and RE professional.His thoughts from our conversation:-Cost segregation makes sense to maximize deductions now. 

Include a lender in your conversations that specializes in working with investors.  

Thanks to all of you guys for starting the conversation.

My most recent LOI was for a 168-unit property, and I’m also working on LOIs for properties with 200+ units.I’ve had conversations with brokers and, in some cases, even the sellers directly.

If the property breaks even, or operates in the red currently, it will only operate deeper in the negative (unless you find a strong ROI like creating more bedrooms, convert a non living space to living space, etc) with another loan. 

Our team has been pounding the pulpit for five years about how favorable our tax brackets are and helping clients conduct moves such as IRA to ROTH IRA conversions in order to take advantage of the current tax deal of our lifetime.