Nouveau Riche is the same even though I don’t think it is a true pyramid (not too sure though) they get you interested by advertising “RE investor looking for apprentice: 20,000.00†If you take the ad at face value one would be led to believe the “investor†was going to pay you a salary to help him with his business and teach you the ropes.

@Luke Spencer I am not on the management side but I can tell you it took 2+ years to fill 300 units at one of our facilities and the other just hit 300 units in 12/13 months so it really depends on the demographics, and local housing market trend, the more people moving in and out the higher the demand for storage.I think if you're looking at a saturated market then the upfront cash to turn the warehouse into self storage is not a good idea but then again, maybe those operators are on back roads ( low visibility ) and don't push google ads well.

You don't have to spend money  out of the pocket on searching Redfin, making some phone calls, making offers and posting ads on Craiglist or whatever local media you want to use to sell the property.

I believe that if you only build to code, congratulations you just got a D-, because that's what code is, the bare minimum acceptable. 

But I will be honest, the rentals I have been added the last 2 years here in DFW have negative cashflowed.

Is it better to keep adding equity by doing work on the houses while I'm renting them then refinance to recover the initial down-payment to reinvest into another property or to pay down the heloc?

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Since the repairs were two owners ago, I would think the town may be a little more lenient with you.With the new kitchen and bathroom, were they existing and just got renovated or were they added on?

Most contractors here in California will charge their hourly rate and possibly ad on a smaller charge if they need an assistant.  

That might include things like adding units, converting commercial space to residential, or finding ways to boost income (like adding parking).The key is recognizing opportunities while walking the property, and that takes experience.