I think working with an architect to build something really unique and custom is always the best move if you have the budget for it.

Meaning, if you take the money only, you would have depreciation recapture from your cost basis up to the original purchase price of the building (not including the land cost because it wasn't depreciable), plus a capital gain up to the insurance proceeds.Hope this makes sense. 

Its a 12 unit building so lets say 2 persons per unit . 60x2=120 a day per unit 120 x 12 units = 1440 gallons Depending on area lets round it up to an even 2000 gallons . 

Based on income alone, I could buy a 30k lot in sky harbor and build a 2 bedroom 1,400 sq ft cabin that generates 50k to 60k in rental income all day long (if not closer to 55k to 65k).   

@Ella Marie the Pro's are you can build long term wealth, the Cons are you can lose money if you cannot properly quantify risk.

That’s the magic of real estate compounding over time, and it’s stories like yours that really highlight this.. from what i read in the street journal, that slow build often outperforms shorter-term stategies.From an investor-friendly agent’s perspective, being willing to dig into the neighborhoods (driving for dollars) and having a robust network.. from probate attorneys to local contractors.. can pay off big.

She found a PM through a friend in the building and they sent me the contract to review.

got out of flipping to new construction in our market in columbus ohio. licensed general contractor. when interest rates got high single family existing went down by 30% new builds sold at a 6% increase that year which demonstrated the desire and premium that new construction commands. never looking back. total control, rinse and repeat. we can get permits in 28 days. we can buy land cash in 21 days. we can build in 120 days to 140 days and keep moving. super scalable and easy and no risk. we build the same 2-3 Floorplans 

Personally, I started off getting referrals from other real estate investors when building my team but eventually found and added my own people to my network over time.

- Renting it Out: The likely rent I'd get in this area will cover half my mortgage payments at the moment- Add Square Footage: Taxes will likely go up significantly- Build an ADU: Overall ROI will likely not offset much since it'll still be counted as value tied to the one house- Selling Off Land: Sits on .5 acre that I might be able to sell.