Please reach out if you would like to connect and share market insights.

Thanks for your insight, Owen.Thankfully I have a couple agents with Goosehead that have been great in assisting my members. 

Hey Brooke, if you're already invested in Cleveland and looking at other Midwest markets you should take a look at Detroit.I've been investing there since 2019 and it's gaining a lot more traction recently.

These two factors were strong indications that we would gain additional equity, and maybe even increase our net worth.While it might be tempting to think that there is no way a house with an extra mother-in-law suite will be less valuable than a house with parking, it is worth making sure that you will have adequate equity when the project is done, and that you are not overbuilding the house.

Good insight and I still have research to do.

I had to alter my plan by renting out the updated unit almost right away, and moving into the other units while completing the rehabs.For better or worse, I decided to tackle the rehabs myself to gain some construction experience and learn as much as I could about the property.

If you want to capture additional short-term gains... probably best to just stay the course you are on. 

Well, the Managing Member, the SOB, upon a receiving a large capital gain from sale of property [a §1231 gain] took the unusual and selfish step of grabbing most of the proceeds [damn the OA], and for good measure allocating a lot of gain to Members [again, damn OA].  

If one is renting out a percent of their personal property, that same percent of the profits will be subject to capital gains tax at the time of sale.

Insights on communities, property prices, and prospective rental revenue might be obtained from them.Keep an eye out for areas that are experiencing gentrification or revival.