I had been discussing this property with the owner for a while and saw its potential—distressed but with strong fundamentals and built-in equity.The deal was a great opportunity to apply creative financing, secure a property with minimal upfront capital, and build long-term cash flow.

I was fortunate enough to inherit a 21 unit multi family building.

- Renting it Out: The likely rent I'd get in this area will cover half my mortgage payments at the moment- Add Square Footage: Taxes will likely go up significantly- Build an ADU: Overall ROI will likely not offset much since it'll still be counted as value tied to the one house- Selling Off Land: Sits on .5 acre that I might be able to sell.

Purchase price: $3,636,000 Cash invested: $700,000 This is a brand new 40 home build to rent manufactured housing community.

Meaning you can sell an apartment and purchase an office building and it's a valid exchange. 

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Basically, more than a certain amount of STR and MTR in the same building were considered a hotel and I would have had to have 24/7 staff on site.Were you able to get around that with the local municipality?

If you want to build your portfolio and its a property that is already making money, why would you want to sell it?

Hey Lucas, if you already have built connections and a solid foundation of knowledge in Akron, I would keep building the portfolio there! 

We are building a place with HELOCs then after it is built we will finance it and pay off our HELOC, at least thats our plan.