Anything relatively close to Route 7 is prime, I believe, because that will take you right up and down the county, with access to everything from shops to mountain views!

Once the property is in my name free and clear are there instances where banks will view the property as an income producing asset and lend the renovation cost just using the property as collateral rather than require down payment for the loan?

Does anyone have experience investing in areas like I described? 

The reason I’m excited is because we have parking to build 2 more units, and in 2 years, we’re ripping the roof off and building a couple 2/2 condos on top of the quadplex with all glass walls on the ocean side and killer views, can’t wait for that.

You mentioned "locking in your gains" as a way of describing their potential fragility; that's a helpful way to think about them. 

From what you describe, there isn't anything inherently wrong with a tenant wanting to find a home to eventually move into.

View report*This link comes directly from our calculators, based on information input by the member who posted.Hey Everyone.

Keep itDo you think you can find another property that will Cash-flow / appreciate better and also cover the 7% - 9% fees described above?

View report*This link comes directly from our calculators, based on information input by the member who posted.

"This is a popular view among agents and RE investors.