You may not feel the need when you own just 1-2 properties, but it may be more relevant if you plan to expand. 

The local property will give you practical management experience.You might do better buying a REIT if you are planning to buy single properties far from home.

CT isn't cheap so if you plan on doing it there you are going to surprised at how poorly you do. maybe in the suburbs I'm not sure but as much as I know people call us from CT and everyone is rich and has lots of money and things are expensive out there. build to rent is a great model. we build 3 story walk up infill and keep it to the residential side. 3 units is the most units before it's commercial and you need engineering, etc. check comparable and things liek that. we came up with this design a year ago and we sold 10 if you want to talk further please DM me happy to connect. there are some great build to rent conferences. we went vertical not horizontal with it to save on build costs and design to fit on any infill lot. this fits on a 3500 square foot lot. most lots in our area are 30x120 or 30x150. in miami where I live now they are 50x100 or so. but any infill lot we can pretty much get this one on. there are some great build to rent conferences coming up too that if you like this topic I'd recommend attending I'm sure you'd learn a lot.  

Im only thinking about doing this because I think he wants at least 400k.Does that sound like a smart plan?

Planning to sell my property in vegas, just wanted a second opinion on if these are typical, fair costs in today's market.

If you are planning on using your savings for Real Estate Deals, I use high cash value Whole Life Insurance as my saving vehicle(IBC).

An older house that had already been flipped (2022) -- all new appliances, remodeling, good floor plan.

I feel like the seller would wait and I could just buy it in cash since I do plan to refinance it anyway and pull out the equity once I’ve done some repairs/upgrades.

They found it out, andI had to go to the planning board and zoning board, hire an engineer and architect to make the fourth unit legal.In my opinion, the realtor should have verified the zoning, and if you used bank financing, it's pretty rare for the bank to miss it as well.You are probably going to have to hire an architect to draw plans and to get it approved as a triplex.I wish you luck.

We've developed a solid plan to continue growing, but I’m looking to create systems that will enhance our efficiency and help scale our operations.