As software developer in my first career for 20+ years and full-time real estate investor for the last 20+ years, the answer is sell the shovel.

Subject property (3 unit condo building in chicago Which I’m trying to sell , have it professionally staged and fully rehabbed 2 months ago I own a duplex down 42% of the building We ran into an issue with the unit above me stating that water had leaking form his kitchen sink . ( he stated that he water “dripping “ before he left for a 7 day vacation).

The goal is to add a 800 sqft unit (bed, bath, kitchen, and laundry) atop the attached garage with a side entry for rental income.

So they get the whole house for now for $1900 with brand new everything in kitchen, bathrooms, lights, appliances, etc.

The renovation consisted of all new interior and exterior paint, removal of popcorn ceiling, complete floor removal and install, complete kitchen remodel which included a wall removal and converting half of a closet into a pantry, complete master bath remodel, 2/3 remodel on guest bath, All new interior doors and hardware, new front door and hardware, new lighting fixtures, new landscaping, new paint for patio and front sidewalk, and pressure washed driveway.

Had a tenant do some serious damage to a property recently, and I'm looking for a contractor that specializes in rentals.As in, isn't expecting a $40k kitchen remodel but more in line with what a rental property remodel would be.Thanks,Derek

@Nathan GoffHi NathanThe key to the rental arbitration business model is understanding that it is a BUSINESS and not a real estate INVESTMENT.When making a real estate investment, you can often be bailed out of an unprofitable venture by time. Real

Fully remodeling a kitchen may not be feasible or even necessary sometimes.

I'm sure the article highlights the fact that you can get an owner-occupied loan on a 2-4 unit property (same rate/terms as if you were just buying a single family home to live in) so if you can qualify for what I assume will be a larger payment (more expensive purchase), I think you may find it worth it to 1) get more income coming in from multiple units and 2) you have your own private apartment to live in (not sharing a kitchen, etc. with roommates).Good luck!

Having done remodels for decades, I can tell you without doubt, that your #1 ROI is the kitchen. #2 is the Master Bath. #3 Master Bedroom. #4 Open Floor Plan. #5 Other baths.Of course certain families will have their own wish list, but these will be your money makers.