We are on a shoestring right now, we have spent all of the money we are able to on necessary upgrades and furnishings etc, and given the tax/insurance/electric/gas/cable and wifi bills that are going to be due on the regular there isn't time or money to upgrade kitchen or furnishings, we were hoping that maybe we could accrue enough of a surplus that come spring we might tackle a kitchen reno or other such projects, but at this point I am not holding my breath.I will look at our prices compared to other similar properties, I had been under the impression that we were priced lower, however it seems I am mistaken given the feedback here.

I have a construction back ground, I don’t have time for big renovation projects, but would like the buildings to be located somewhere I could visit semi easily yearly and lay eyes on my investment.

If you are going to work with others to help raise money for the project make sure everyone is clear on what they are getting paid.

I would suggest you do a bit of additional homework prior to taking on New Development projects.

I add additional profit for the estimated time and difficulty of the project.

Average Rent- $1,500 / monthIf I were to rent this to two people my income would be $3000 but since I'd be living in the other half, I would contribute roughly $500 / month (I am currently renting at $1,500 / month in Portland so I see this as gaining $1,000 / month on my end)But since I'm living it the property the numbers I'm seeing based off the general rules of thumb don't make sense.How should I adjust my analysis to take into account that I'm living there?

Hi everyone,First time homebuyer, first post, and first analysis all at once so please be as critical as you like; it's the only way for me to learn.

I'm really interested in looking at a project like that myself.Matthew, Trevor, Kundan - Thanks for the warm welcome! 

Thanks, the catch is I did most of the work myself, subbed out a few projects like full bathroom re-do :/It was a huge learning experience, but now I feel more confident in both understanding the scope of various projects, and working with contractors for the future.

Here is a SWOT analysis I did...This is not really a hard tangible asset, however, I am intrigued by the Emerging asset class.