You should try exploring other markets such as Dayton and Cleveland where you can buy single family homes under $100k and duplexes under $200k.

We can cut them a break in the rent increase as we explore what is feasible.    

I also like to purchase options.I'm just confused by your language of wrap around and down payment in addition to option fee.  

Cash flow makes the journey easier and gives you the returns you are looking for quicker but it will take years for your cash flow to produce enough excess to purchase additional assets.

For the last month I've been exploring the idea of dumping my 401k into an apartment building. 

This means an additional $200 per policy on top of what I already pay . 

@Melody T.I can appreciate the additional questions, but unfortunately, you're: 1) getting into the realm of legal advice, and 2) are asking specific questions that can be dependent on the facts. 

The renovations included new flooring, fresh paint, a new HVAC system, updated bathrooms, and the addition of stainless steel appliances and granite countertops.

Your strategy of converting the garage into an additional dwelling unit (ADU) and using the property for short-term rentals (STRs) sounds like it has paid off well, especially given the unique aspects of the property and its location.Your approach to identifying a unique investment opportunity that was overlooked by others, and your patience in securing the right deal, are key takeaways for anyone looking to invest in real estate.

We are located in the Pittsburgh area, so we would prefer to set up our first short term rental arbitrage nearby, but we are open to exploring good opportunities elsewhere.