Richmond certainly would have some potential in pulling trades from, but coming from Lexington, you might face an added trip charge on top of the service provided.Over the past few years, rents have increased nationwide.

I don't have a solution but I think a real estate attorney or a title attorney would be a good person to talk to.

You also mentioned meters, do you have to separate meters, get approval from the city and pull permits?

Since there is a co-owner, you would have to purchase the property and it is really hard (if not impossible) to pull a HELOC as the basis for the purchase (since it is not your primary residence). 

Lots of folks are pulling out cash based on the appraised value for their next projects and holding for a few years to benefit from appreciation. 

Then over the course of the first year or so, if you could raise the rents by a total of $1k/mo (they are currently $2k, $1k, and $1k), then you might be able to pull out about $60k-$80k in a cash out refi. 

I would like to pull out equity from the homes to build either a house on each or an ADU (they are zoned multi-family) depending what makes the most sense on returns and what is feasible.

For example, incorporating energy-efficient solutions and smart home technology has been a game-changer in similar markets, especially when paired with features like office spaces that cater to remote workers.As for potential add-ons, corporate housing partnerships are a brilliant suggestion!

It's a great way to increase your net worth and these loans can also be used to pull cash out of a property as it appreciates allowing you to reinvest money into new deals.Happy to connect to discuss further. 

Unless your digging deep in that file and pulling from when the game was most similar to todays.