If you have lower interest debt, I’m all for buying a good investment property vs paying it off…it’s essentially just additional leverage for cash. 

I replaced the floors, gutted both bathrooms, landscaped, etc. 

@Kian Faramarzi Knowing what I know now if I had not been on the trajectory I was on when I was 21, which was that I owned a Bed and Breakfast, so was essentially house hacking altogether a little unconventionally, I would tell my college graduated self to buy a 4-unit on an FHA loan and house hack and save up and rinse and repeat and today I’d have a small real estate empire.

The whole structure is essentially a pref equity position.  

I am adding another bedroom aprobably with a bathroom hoping to convert my house from a 3/2 to a 4/3.

The improvements needed are simple cosmetic, sand floor, some new vinyl flooring here and there, paint, kitchen and bathroom upgrades, and new appliances. 

Remember it comes out of gross, not profit.Depending on the area you might even see some as high as 40% though that seems crazy to me.What are the essentials needed to manage a property yourself?

Can't see how you'd get a chair through a bathroom door in a typical house while horsing around. 

Here are the details: Purchase Price: 400,000-425,000Single family home with a mother in Law suite in back; as configured now its a 3bed/1bath and a 1bed/bath; Will configure turn the garage into studio w/ bathroom, so essentially will a total of 5 bedrooms and 3 baths (as 3 separate units) after renovation.

Added a bathroom, making it a 2/2, then opened it up to less qualified buyers by offering financing.