Mortgage interest rates coming down would be a big deal.But Wait, There’s More….We have forced appreciation, that is forcibly appreciating the value of the home through a renovation / property improvements.

Ideally I would like a minimal rehab project and am open to the larger Charlotte area (Gastonia, Rock Hill, etc).My ultimate goal is to master the BRRR strategy and build a long term rental portfolio.

Currently he has taken on an extra building I bought in a partnership with my sister and that will be an extra amount because he is renovating that building on top of the rest of the work he does regularly for me.

We have paid every distribution on time in the amount projected or more.

Do you know the renovation needed? 

As a good rule of thumb, figure on $275-325/sqft for all-in ADU project costs…so an 500 sqft 1BR standalone ADU would typically cost around $160K.

@Demetrius Stinson are you doing a renovation loan?

Opting for multi-zone mini-split systems (link is just a sample, there are many to choose from) offers a practical and efficient solution for heating and cooling an entire house, particularly in renovation projects where space for ductwork is constrained or entirely absent.

The full renovation that's required would cut into profits quite a bit.

The total down payment with closing costs will be around $50k, and then add $10k for renovations, so out-of-pocket expenses will be around $60k.