Compared to fixing them both up and paying full taxes as flips.

I would compare my return with any market, anywhere but 1) this is a different San Diego market than the one I have been so successful in 2) while I am a big fan of leverage, I am not a fan of over leverage.

The key is to compare each scenario side by side.

Here are a few things that I like about the neighborhoods in Indy compared to other states: high rent-to-home-value ratio, consistent and gradual city development, relatively low property tax and insurance cost, affordable renovation service cost.

I am such a novice and only just starting my small multifamily property investment... very "boring" compared to what you are doing!

Dustin, you're comparing apples and pears.

The fees for a refinance / cashout would be ridiculous compared to the amount of money you're seeking.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Fortunately for our 100+ house community, the fire department was already on site battling the brush fire and about a dozen fire fighters frantically extinguished the 4 or 5 roofs burning.This is insignificant compared to what has happened in LA, Palisades, Malibu and Altadena however having lived through Hurricane Andrew and many other major storms even this experience was drastically more terrifying and chaotic. 

there you go. the problem is appraisal. comparable sales, and your approach to building an ADU against the recommendation of your market. super beginner strategy it's popular in ohio as well but just not worth the investment.