Without standardized processes in place, costs can rise quickly, timelines can stretch, and profits can dwindle.- Standardized Renovation Models: Establishing a clear scope of work for different property types can help manage costs and reduce unnecessary decisions.

The idea is simple: purchase a property, live in one part, and rent out the rest to offset your mortgage or even generate profit.

But you are required to file a Schedule E in the US every year showing the total rents you received, the expenses you had against those  rents and your subsequent profit or loss. 

Sounds like you found a profitable niche 

@Veronique Leroy I would say it is possible if you force equity, hold for a few years and then sell and then average the return of the whole profit over the timeframe of deal.

If you have a “good tenant” bend over backwards to create the 5 year no hassle highly profitable relationship I spoke about.  

I am able to do majority of the work involved and have been in trades for over ten years.

If a unit does not having a living room (or the 2nd bedroom is used as a living room) and the unit does not have a shower, not only is the rent you advertised not feasible but why not point these major issues out on our walkthrough? 

I have visited Greenville and I have witnessed major growth.

That said, the overall market is still grappling with major challenges, and inventory remains one of the biggest obstacles.So, what does this mean for you?