Yes, you can potentially 3x and 4x the long term rents on certain types of midterm properties but it is by far not the norm.

Recently, I've been drawn to exploring short-term rental investment opportunities in upper-state New York, particularly in Binghamton, NY.Admittedly, my knowledge about Binghamton is limited, but I've heard wonderful things about its potential for real estate investment.

Beyond preparing your taxes, they can provide insightful advice on optimizing your financial structure, identifying potential deductions, and strategizing for future investments.

The reason I am interested is I lived in this area and it still has a lot of potential for growth and felt it will yield good returns in next two years if sell the property.

Construction agreements or contractors are of different types with so many different terms; apart from Legal help as an expert  Which are some of the areas/terms you think if not paid attention and understood properly results in risk potentials?

Otherwise I think LTR's are ALWAYS a great strategy if you're into it for the long term equity potential.

Throughout my years as an investing coach, I've realized that unlocking their potential is dependent on one thing: education, particularly when it comes to multifamily investments.

@Tim Swierczek can elaborate, on the reasons for this and could potentially give you guidance on how to solve your problem. 

However, rules can vary by lender, so it's essential to confirm with potential lenders.Standard Waiting Period: For traditional cash-out refinancing, lenders typically require a waiting period of 6 months from the date of purchase.

Add on potential electrical main panel upgrades to handle the increased load (assuming no gas service, they'll be cooking and heating with electricity in the ADU), along with drawing and permit fees and you're maybe another $5k.