I've consistently written about the forces of nature and her current and future effects on the real estate market (even while often being ridiculed and politicized on this very site for it) regardless: I personally moved and invested in coastal Oregon in 2018 from Venice Beach Los Angeles partly as a result of the trajectory of climate and have assisted several clients that specifically purchased on the Oregon Coast for their own 'climate havens,' investment and future retirement homes. 

Cash flow should not be your only consideration.

Other considerations are the lost costs to sell and re-purchase other properties.

If this is your first property, you could consider starting with a smaller apartment building and going after the opportunity first, and the property as a secondary consideration.

I’m looking to access some of the equity in the home to buy out my ex-partner, and my goal is to either convert the house into a multifamily property or add a dwelling unit (ADU).I’d love to hear any advice from the community on the best way to approach this, particularly in terms of financing options, legal considerations, or any similar projects you've completed.

Prices are still considerably higher than just a few years ago.

I would probably go with a HELOC as you won't have to pay for what you're not using unless you've got a specific property you're going to be buying with that money so you know you won't just take out the loan and sit on it paying interest all the while. 

@Marc ZakThere are several considerations that can go into the analysis of whether you need an LLC or whether a large insurance policy will suffice.

This approach balances tax efficiency, financing goals, and family considerations effectively.This post does not create a CPA-Client relationship.

It looks like most of them have been listed for 2-3 months, so you aren't unique.Another consideration is your distance from the city.