I'm currently renovating my rear unit and it has the perfect layout to split into 2 units by adding a wall and an additional front door.

A nicely done fully renovated home here is around 1.1-1.3m; this home is a 3 bed 2 bath 1300+/- sqft with a lot of 5500+/- sqft.

The construction project in question would be in West Philly, if that's helpful.

I currently have a house I am renovating that should be worth around 210k-240k and rent for $1,800 - $2,000 in May.

@Melissa SejourRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Another idea to consider is the FHA 203K renovation mortgage, this is another excellent tool to use because of flexibility and other worthwhile features you might consider researching.

My dilemma has been that I've gotten a little behind on some revolving debt that selling this property now could eliminate in addition to giving me cash on hand to trade into some better value or start a new construction duplex project I've been wanting to start.

I would be willing to do some value add component/renovations.

This is my third year investing with my mini me 12 year old and this is our 5th deal.My 12 year old found us a great deal- I teamed up with my friend and family member agreed to pay purchase and renovations.

Local market trends: Could you share any insights into current rental market conditions and future growth projections for these areas?