The building features three long-term tenants on the upper level, each occupying spaces for over five years, with opportunities for upgrades and rent increases.

The building features three long-term tenants on the upper level, each occupying spaces for over five years, with opportunities for upgrades and rent increases.

You need to do an independent review of the sold comps, DOM, and the finishes you need inside to get the ARV you see.3) When projects pass the paper test and pass the number tests, then you need a GC and an Agent or some kind of designer, who have already looked at all the comps, walk the space and put together a budget that works and that will get you the number.4) Now you need a good relationship with a money source. 

Situated on a large lot in a thriving Morganton market, it features immediate rental income potential with cosmetic updates already completed.

I'd find a mortgage broker who understands your strategy well enough to advise on products designed to help you scale. 

I do like real estate, I have a great eye for design, but would hate to have to evict someone—that would be my worst nightmare, so I’m not sure I’m cut out for being a landlord (although I would fully anticipate having a property manager)Is option #3 a far inferior option compared to keeping our expensive house in expensive city as a rental and only having to deal with one property that gives us great appreciation in 10 years ?

I understand home designs are pretty expensive, and cannot just be applied to any lot/existing neighborhood.

Clearly, he’s not just playing in the STR game; he’s changing the rules.This was a recent feature from our weekly STR newsletter here at BiggerPockets is called BiggerStays.

Will definitely try the feature out.

When I internet search “residential definition” the first definition is ”designed for people to live in”.