Return:Finishing the basement and adding bedrooms can add significant value, especially if your local market places a premium on additional living space.

I live in CA and drove that route for years to visit family in Phoenix, AZ. 

I’m looking to start in DFW since I live in Arlington but eventually I’ll be open to other markets to diversify my portfolio.  

P.S; We live in Wilmington NC so both markets would be "long distance" P.S.P.S there are no reasonably priced multi family properties local to us.

We’re fortunate to have an above-average income and live well below our means.This summer, we’ll be moving to Detroit (PCSing in August), and we’ve saved about $120,000 to invest in addition to having funds set aside for the home we’ll purchase in Detroit.The reason I’m posting is that I’m struggling to decide how to best allocate the $120k.

if you buy it yourself and turn it into a live in flip and absolutely crush it, great! 

Just a simple 499 sq ft city approved plan, single story, 1 bed/1bath/full kitchen adu with living space.

I'd like to purchase an STR (I probably should have said that), being that I live in South Florida, Orlando isn't too far, but also not close enough that I can drop by anytime, so I thought I'd need a PM, or perhaps just a great team in place as far as a mechanic and cleaner, realtor and lender.Thanks again!  

If you are renting the house out (not living there) you can not legally take a homestead exemption.

Sometimes tenants bite, sometimes they don’t, but it’s worth a shot.Owner Move-In: If you’re planning to live in one of the units, you might be able to legally take it back.