It allows you to essentially take money out of your house.

I look at the house my parents are providing me as a future rental property because the house has a lot of potential with 1,478 square feet with 3 rooms and 2 bathrooms.

Purchase price: $280,000 Cash invested: $65,000 Sale price: $390,000 3 Bedroom town house needed significant updates.Kitchen, bathrooms, paint through out and refinishing floors.

We put in new flooring and carpet,paint and refurbished the Kitchen cabinets and added an island with Quartz Counter tops.New bathroom vanities.

But the numbers don't seem compelling to use my 100k to essentially subsidize others to live in my property.  

I have an opportunity to buy a 5 plex built in 1980, consisting of 5 3 bed room 2 bathroom townhomes, for $450,000.

It is essentially part of Tulsa.Chandler park is there also, which is one of the bigger parks in town.

Bathrooms and kitchens are always great places to spend money, but there are things that you can do throughout the apartment that will be relatively cheap and yield a high return on your dollar as well.

Treated for bugs, replaced the interior and exterior "Zinsco" Breaker and service panels ($10,500), remodeled 2 bathrooms, replaced 3 of 5 water heaters, smoke detectors, added kitchen and bathroom GFCIs, 1 AC unit, 1 new dryer, replaced 2 windows, repaired several more windows.

We recently enclosed the porches to add an additional bed and bathroom.