I would love to get a property in the NW DC that is run down, add additional floors and then make it an apartment building.

Most people think real estate investing requires huge capital, perfect credit, or bank loans—but that’s not always true.

Additionally, managing series LLCs can be challenging, especially when it comes to opening bank accounts or handling titles for individual cells, which can create unnecessary complexity.

In my experience in MO, land bank properties are very low priced (these are generally properties/parcels that weren't sold at the tax auction), but they often have significant tax liens on them that must be cleared in addition to the "sale price" AND they require a significant amount of rehab in order for the properties to be inhabitable. 

Another possibility is looking into a home equity line of credit (HELOC) on your personal residence, which could help you tap into available equity without a large lump-sum repayment upfront.

In addition to your realtor, you'll want to reach out to local PM's, decorators or contractors, etc.

I'm not saying this to deter you, but there are some additional regulations I think everyone needs to know before they jump in. 

You will likely need to rehab for any strategy but Co-Living will be more bedroom additions which is less cost compared to kitchen and bath remodels that are more needed for furnished rentals. 

Additionally, the study must be completed by “qualified individuals” and “professional firms” that are competent in construction, design, auditing and estimation procedures for building construction.So while a specific methodology isn’t required by the IRS, taxpayers must ensure that their depreciation deductions and classifications of property are substantiated with supporting evidence.

I do have additional coverage for the sewer since I knew it may have issues before I bought the property.