I own a building with another LLC as Tenants in Common.

Lacking the capital and building experience to develop it ourselves, we want to offer the backyard as a "Developer Special" on the MLS.We’d rather not risk demolishing our home at the front of the lot.

A common way to build a portfolio quickly is to use creative, out of the ordinary, purchasing techniques.

I have found all my current flips on the MLS and want to start building a system for deal flow in order to grow.

If you've been happy with whoever you're working with, they communicate well, are responsive, look out for your best interests...that's important to consider too. 

the other option i have is build a 3 car garage and out a one bedroom apartment on top that ill rent for about $1500 a month.The garage price would be about 100k to fo but could make 18k a year.The land is $130kWhat do you all think is the better strategy?

Background info: A tornado came through about a year ago and tore up the carports for a rental property of mine in Iowa (I own one unit in the 12-plex).While the carports have been rebuilt, the HOA's building insurance is coming up for annual renewal with a VERY steep price tag.

Since you have good income, you should try to maximize equity build rather than cash flow (which you will pay taxes on if you take out of the property to pay yourselves).

Once we jump over our ethical / pro standard hurdles, it is up to the client to pick between Option A and Option B.Find someone that is aligned with this way of thinking, and that you can have open and free communication with.

If you do, you just want to make sure you're up for the management complexity (tenant communication, multiple leases, maintenance, etc)If you want to unload your commercial property, remember that you can 1031 into all kinds of different assets, depending on what matters to you most.