I have some vision in my head (which may not be based in the real world and change over time) a scenario where I sell my current house and use the equity to put a down payment on a smaller home or even rent for a short time, using the remainder of the equity along with some savings and if needed, family investors, to purchase a value add quad that I can reposition and roll into a 20 or 30+ unit property in the course of 18-24 months.

I posted on BP about 10 years ago about using credit cards to buy houses with 0% interest.

At 60K a house that puts me at a 3.84 million dollar loan. 25% down is 960,000.

I look for single family detached houses with 3 bedrooms and multiple baths, and adequate storage. 

You have to be quite selective and in some cases make some changes to the property to make it cashflow (ie add a garage, renovations etc).

Have you ever had to deal with major delays in a renovation project, and how did you manage the situation?

It gave me a great perspective of what was going on with my tenants, my houses and especially the neighborhood!

Some markets are so saturated a house may bring in more as a LTR than an STR.

Hi Elvis,You will need to fill out a construction permit if you are doing a major renovation, which requires an inspection from the city to ensure the code is followed.

Considering airbnb's downtown, long term rentals in up and coming areas near burns park, fixer uppers...pretty much anything except student housing - that feels hard!