You can understand a variety of statistics like price to rent ratios, population growth, number of jobs moving to the area etc. but as some have said someone who can advise you well on the area is highly key.

This is because many new investors get way over their heads with rehab, and I think it's best to fully understand one aspect of real estate investing (ex., rentals) before branching out and learning another aspect (rehabs/BRS).

You just have to really understand how to run your numbers and make sure you find the right deal.Regarding the HELOC... it's a fantastic tool provided a) you can comfortably service the added debt, and b) you have a plan to pay it back.

Thanks so much, and I understand this is not professional legal advice.

- My next step would be talking to lenders and realtors in all three cities to understand the current market better.

Selling now means you could miss out on potential future gains.Market conditions: If the market is currently down, you might not get as much for the property as you would in a stronger market.Option 2: Get a Loan to Fix the BasementPros:Increase property value: Renovating the basement can add significant value to your property, both in terms of rental income and resale value.Higher rental income: With the basement fixed, you can charge market value rent, which could help cover the mortgage, property taxes, and the cost of the loan, with the profit potential.Tax deductions: The cost of renovations can often be deducted from your taxes, either through depreciation or as an immediate expense, depending on the nature of the renovation.Cons:Additional debt: Taking out a loan adds another layer of financial obligation and risk, especially if the increased rent doesn't cover the loan payments.Renovation risks: Renovations can sometimes uncover more issues that need fixing, leading to cost overruns and delays.Market risks: There's no guarantee that the market rent will remain high or that you will find tenants willing to pay the increased rent.Additional Considerations:Current Market Analysis: Understanding the current real estate market in your area is crucial.

Maybe putting myself out there will attract likeminded and honest people that understand that success lies within community building not deteriorating.

Given that you've never sold any real estate you're working off wild assumptions based upon things you've read online and only partially understand because you haven't lived any of it yet.

Re syndication I understand you need  to develop an extensive personal network to try to vet the various operators directly.

We purchased a property that in 2019 had a rent to purchase ratio of 4% (and I was hopeful that 2022 would hit this ratio again, but there have been a few issues).Note to pull this off you have to have a good understanding of RE, be able to sell (best skill to get OPM), be able to underwrite properly, ideally be able to do some of the value add yourself, and be able to excel at asset management (manage the property or manage the PM).