But today, you have a considerable amount of equity built in paydown and appreciation to access, and you can use that equity to improve the current house and purchase more.Many people find suitable alternatives to manage a handful of properties from a distance, so even if you move eight hours away, you can do most of the managing yourself by building relationships with contractors and real estate agents, paying a small fee for them to help as need requires.Only sell if you know the choice is mathematically correct, rationally made, and leads to more property acquisition now.

The lower priced per unit buildings tend to never improve more than enough to cover issues.

You'll still be negative CF, or so close to it you'll be waiting for it to happen every month.Seller financing should be used as a way of improving a deal...not making it worse. 

I have 5 years of home improvement construction experience, so determining whether to write an address down came naturally to me.

My question is this: should I try and get a tenant in my rental as fast as possible or spend the upfront money to improve the home so as to have it appraise more?

I may have to wait until I close this deal to do it, however, I am genuinely working toward improving my credit so I can just buy when needed.Hard money is an option and then just hold it until the time is up but that gets very pricey very fast for each monthly payment until paid back.I have also been looking into the promissory note idea.

Will you put up with roommates until your income improves in a few years?

I've looked at adding value by ways of major/minor improvements, but if you get into having to get a GC to add sqft that can turn into a nightmare.

If you can plan your rehab to convert some of the improvements into repair, then property that needs rehab can give better deductions.Also, you could potentially get to deduct the personal property such as appliance if you buy them for the rehab.

The business plan is to basically BRRRR these properties, purchasing at a discount due to the properties are underperforming, we are obtaining a construction loan from a lender, improve NOI and refinance a 1-2 years down the road and then hold long term.