Basically it was an idea I had to generate some capital by buying something that will appreciate rapidly over the next 3-5 years.

The market continued to grow rapidly through 2022 and I decided to buy them out 5/2022 in the amount of $800k for their existing 50% stake in the property (estimated market value $1,600,000 on 5/2022).

We are growing at a rapid pace here, and I could easily argue this area has one of the lower seasonality issues for beach markets because of the high demand from snowbirds (Midwest states) from January-April due to the access from I-65.I-65 is a straight shot South for many of the midwestern states.

I would say equity can be built over time with appreciation, or forced rapidly with a rehab, rent change etc.Good luck!

This was more house than we needed to live in, but with the furnished guest suite rental opportunity, it made sense for us to sell our 1st house in Tampa following rapid appreciation and use the equity to renovate this property.

They are a young couple so it might be a stretch for them to keep up with the rapid increase in prices and that supposes they can actually find a place, which isn't a guarantee in this current market. 

I live in Philadelphia but am watching fixer upper prices climb rapidly in my city. 

The Metro Grand Rapids Real Estate Investors' FB page also announces several other meet-ups in West Michigan. 

The rapid rise in interest rates has shocked the market and made year one cash flow harder to come by.

Unless you are in a undeniable market where growth is extremely rapid i'd stick to the fundamentals