Obviously, their capital gains are well beyond the $500k primary residence exemption. 

– Considering Class A properties with established tenants• Less focus on appreciation – Prioritizing income stability over potential future gains Current Opportunity: I’m evaluating a retail property in downtown Portland with:• >80% occupancy, most tenants in place for 10+ years• Decent cap rate (6-7%), NNN lease• Well-maintained, high-quality building, with existing HOA which will take care of maintenance. 

My main goals with these initial projects are:1.Gaining valuable insights into the local market.2.Getting hands-on experience with out-of-state investing, particularly when it comes to remodels and managing from afar.3.Testing the entire BRRRR process to see if it’s the right strategy for me long-term.If all goes well, I’d love to scale up and explore multi-family projects.

So pretty good equity position within a year plus cash flowing well based on a $325k purchase price.

My plan is to funnel the rental incomes from all three properties, along with my W2 income, back into the HELOC while covering all expenses from it as well.

I want to look into the possibility of a future ADU there as well.

Quote from @Gregory Schwartz: I have 2 very close friends who grew well beyond 2 rentals with this strategy. 

Quote from @Yaroslav Shtogun: Good morning,Some updates, we did home inspection and the house is not good condition since it was built in 1950 and was not maintained well.

I added arcade games, board games and accept pets as well.

A Mentor – I am new to the area and hoping to find someone to learn from and help that knows the area well and can guide me in the right direction.2.