Thank you for this post, Garrett! 

I removed the chimney entirely and installed a full HVAC system, making it the only house on the block with modern heating and cooling.

Purchase price: $2,800,000 Cash invested: $560,000 The property is a three-story multi-family residential building with six independent units, initially facing significant challenges due to poor conditions.Renovation Investment Summary:- **Structural Repairs:** $250,000- **Kitchen Modernization:** $100,000- **Bathroom Updates:** $50,000- **Exterior Improvements:** $100,000- **Holding Costs:** $50,000- **Property Taxes:** $30,000- **Insurance Costs:** $10,000- **Management Services:** $10,000

First of all, let me pay my respects to the hardworking people in real estate and the treacherous waters they navigate—fronting hours of effort with only the chance of commissions and an abundance of non-forthright pe...

And the passive loss rules may prevent you from getting a tax benefit if your rental deductions are more than your rental income for all of these options.David OrrTax Modern

Purchased for $139,999 using a mix of cash and hard money, we revamped it with modern updates, including a new kitchen, flooring, and fresh paint.The property rented for three years, generating steady cash flow of $450/month.

The exterior got a fresh coat of paint, and I added modern fixtures inside to attract buyers.

I’m navigating a divorce and need advice on handling rental properties we co-own. My spouse was the primary decision-maker, and I’m unsure whether to keep my share, sell, or hire a property manager.
For those who’ve ...

The renovation aimed to modernize the property, enhance its appeal to potential tenants, and maximize its long-term value.

I removed the chimney and added modern HVAC, making it the only house on the block with it, significantly enhancing its value.