Love that you’re thinking long-term and thinking about leveraging house hacking to speed things up—a great strategy for building wealth and replacing W-2 income.I would imagine that cash flow is tighter in Salt Lake City, but don’t let the 1% rule discourage you—it’s more of a guideline than a hard rule.

REI is a long game, but, in my opinion it is the best way to build wealth.I would start by narrowing down your market. 

I look forward to building prosperous relationships with this amazing community!

In Reno and metro areas, insurance companies primarily focus on roofs, the age of the building, wiring updates, and water pipes, as mentioned @Cameron Moore.

Would need to know about locations of your buildings and current rents to see if there is anything that can be done now to get numbers a bit better.

I don’t believe you can do a 1031 into building an ADU on land you already own, even if it wasn’t your primary.Reach out to @Dave Foster if anyone knows he would.

There are a lot of ways to invest in RE and each requires building necessary skills.  

Hello @Hudson Filippi FHA does have a One Time Close construction loan that will allow you to build a home.

My plan was to purchase a lot and build a foundation, bring in a doublewide/manufactured house. have it placed on foundation and have a structural engineer reclassify it as fixed real estate. then, I would refinance. 

Hi Jaycee, Yes I do plan on continuing to build my portfolio.