I removed a bedroom and added a bathroom to create a 3/2.

For instance, ensure the property has enough parking for all of the residents and that it is in close proximity to the transit routes.In addition, when you rent by the room, you usually hire a cleaning person to come once a month and clean the common areas / bathrooms to reduce tenant disputes. 

If you are buying a property with a good track record and management in place for STR I’m guessing you are not getting a massive discount that would allow you to then try to get it Re-appraised in a month at a significantly higher value.

I also redid the bathroom with help from a contractor on some items plus I had the kitchen redone in a high value way.

These are not the people that want to sell art a discount!!

Homestead is intention, not just applying for a tax discount. 

I can't seem a large benefit of REI in a case where you have to put 20% down in an average market.Ex:20% on $500k move-in ready duplex where about $1k cash flow (ideal scenario)Assumptions - 6% housing appreciation, Stock 6% appreciation (conservative estimates)Profit- House appreciation 6%/year- Mortgage paydown and it's 6% appreciation/year- Cashflow invested back into mortgage paydown+/- tax deductionsExpense- interest payment, taxes, home insurance, maintenance ~ roughly 1k a/f deduction (conservative est, probably alot more)VSOpportunity Cost- Down payment 20% = 100k in mutual fund 6% return/yr- $1k/month expenses that could be contributed to mutual fundYes there are still alot of variables- housing and stock appreciation/return will vary depending on location/time/stock- did not exactly calculate out the tax deductions / expenses but made a conservative estimate in favor of REI- did not include time and fees dealing with REI transactions vs just working a few more hours at my jobWhat i'm seeing is that in a scenario where someone will not be building sweat equity or finding a crazy discounted deal on a property and going through a conventional 20% in an "average market", the argument doesn't seem as strong for REI vs mutual funds/stock - they seem to be pretty close if you take into account the variables mentioned above.

Purchase price: $145,000 Cash invested: $79,000 Sale price: $199,000 Newly renovated including brand new bathrooms and large, bright kitchen with lots of cabinets.

I've thought about an ADU and maybe I just need some clarification on the Airbnb rules for Austin but I thought there was something in there that wouldn't allow for that, something about shared bathroom or something.

REI BlackbookInveloPDF Filler/SignNowCarrotThere are some discount codes on my tools page.