we’d be managing out of state and I’m not sure I’d be okay with doing that without a local property manager…with gratitude,Juliette

@Scott EadieThe Millionaire Real Estate Investor provides steps for successful real estate investing, emphasizing understanding market conditions, local knowledge, and liquidity.

Justin Abdilla (a buddy of mine) would be a great connection for this. he's a local attorney here.

But here's the kicker: the median household income in 2021 was only $56,746, and most households below that are renters.In the article local agents in the multifamily sector talk about why landlords are hiking rents.

Wouldn't you be in at least the same place after it was rebuilt (barring changes in he local market I would guess the value of the property with an newly built house to be greater than before) 

Using real world comps & calendars from your personal experience, local PM's, online estimators.

Take a look at the local market and see what some 2bd/1ba homes have sold for and what they would rent for. 

The next steps will involve accurate construction cost estimates by a licensed contractor (or two) and connecting with a lender (possibly current local bank) for construction financing.

Gone are the days where you can buy a cheap 100 year old multi-family off the MLS, turn it over to a local property manager, and make a great cash on cash return out of the gate.

My properties are in three different states and I use local property managers for full-service management.