If appreciation is not there, however, it seems like a potentially long waiting game to see if your $60k investment today returns anything meaningful in the long run. 

Commercial is a totally different ball game than residential, so connecting with a commercial broker will definitely make your life easier.

I guess it’s just a waiting game from here on out.

Focus on what the rents will look like post-renovation with 4 units instead of 2, and have a clear game plan for refinancing to pull your capital back out. 

Real estate is a relationship game.

Hey @Marc Shin, so yes on the games.

For me, in the LTR game, it's tenants. 

There are rules and situations unique to each state and that is why you want to go with a local lender vice someone just reaching out to you telling you they can do it. 2) Better recourse if the lender screws something up: a local lender has more skin in the game so to speak as if they screw something up their name will be mud to local real estate agents in the deal.

Negotiating felt like a game of chess—except I was playing against a grandmaster, and my queen was missing.

Unfortunately Good Cause Eviction passed last night in the city of Rochester, NY.I want to thank Council Members Lashay Harris and Michael Patterson for doing the right thing and voting “NO” on this largely performative legislation…that will only TEMPORARILY protect a small handful of city residents living in EXTREME under market rental units…But it will have broad and adverse negative consequences for the WHOLE community.