Hey, This is a unique situation, I purchased my second property in June 2024, a single-family home that used to be a duplex, and is still zoned as a duplex ( remains 2 addresses).

These costly improvements are pushing rents up.While effective rents (factoring in concessions) may be declining, asking rents remain high as landlords aim to maintain their property value.

Just remain wary of the potential consequences of operating in an anti-landlord jurisdiction: vacancy taxes, potential vacancy control, inability to remove deadbeat tenants, etc.Coincidentally, Jesse Vasquez posted "why your MTR isn't renting" on YouTube yesterday.  

If I were you I’d spend more money on books and maybe $5-10,000 on education/mentoring and put the remaining $35-40,000 towards your first flip and in building a great relationship with a reliable contractor.

However the banks that are underwriting these deals are killing us (Frost and PenFed).The home we are wanting to purchase will cost about the same as we are paying now so the Debt to Income should remain the same.  

., with high appreciation, you can use cash-out refinancing to buy additional properties with minimal additional capital from your savings.Lasts throughout your lifetime: For your tenants to continue paying similar rent, they must remain employed at comparable wages.

Unless you choose to remove the husband from the lease, they both remain leaseholders even if he is not living there.

Use MMR available at home depot. 1 product will kill the mold, but the stain remains, the other will remove the stain (super concentrated bleach w surfactant) so, you will need ventilation as it's strong. 

The $80k of depreciation recapture will be taxed at 25%, and the remaining $75k capital gain will be taxed at the capital gains rate (likely 15-20%).

Lastly, when we sell the condo, can we keep the 75k + 4k renovation costs for ourselves, and then put any remaining money after the heloc is paid off into a 1031x to then invest in other properties?