It is livable but quite dated and we would want to modernize/ make more energy efficient and maybe even add a small in law unit if he would like to stay in the home as well.

Have you also thought about how you would get in front of motivated sellers?

Hey All! Been searching the market (NJ) for the past 2-3 months, have been putting offers down, even getting to attorney review just to be told the seller is going with another offer "way" over asking price AND with t...

If that's true in your jurisdiction too, that ever accruing interest might motivate your deadbeat.  1% per month forever - and that's a long time!

Depending on your particular circumstance, the renovation loan could be less costly and more efficient than the hard money + refinance option.

What if I buy a 4-plex and convert a portion of the basement into an efficiency. 

If your company was one that had the foresight to build a tech stack that had dynamic solutions to operate efficiently both on and offline, then 2020 was a walk in the park.

Not the most tax efficient but works if that's where your money is and you're looking to diversify.   

I hawked Zillow for sale by owners and called her as soon as I saw her post it, she was a tired landlord that was highly motivated to sell.

Audible is nice because I can listen pretty much anytime I want...while I'm driving, working around the house, sitting around doing nothing, etc.It may sound cheesy but I like Grant Cardone books a lot - his energy  (he does his own reading) helps keep me motivated!