The townhome has appreciated in value to about $350k (per Zillow and RedFin) over the few years I’ve owned it, so estimating $150k in equity, about 45:55 self to bank equity ownership.The townhome now has a leak that has lingered and gotten worse over the few months waiting for an insurance claim decision, ultimately being denied coverage so now I’m stuck with having to cover the entire expense.I’m also considering selling the property once it is fixed so I can take the funds from this 1 single family property in Houston to apply towards funding a possible multi-family property in Austin, TX.The quotes to fix are around $15k-$20k, which I’m not excited to just pay out of pocket, nor do I think I really can at this point in time.

In my market in Reno Tahoe, NV the multifamily market is all over the place.

Don't you mean taken over by YOU.

It's an interesting dilemma, on the one hand my investing side, I run everything on a 2-5 year time frame absolutely no problem waiting for investments to work over the long-term with no lost sleep.

Come over to the WAREI group sometime when you can. 

We have enough capital now to purchase a property and and we are blessed to have capital left over every month as well, which we typically invest in CDs.Here are our current options: 1-Buy a turnkey place that has nothing to do with mom for cash flow of $200-300/month plus potential appreciation, overall ROI of 15-20% 2- Ask mom if she would move closer to us in San Diego, buy a small place here, have zero cashflow but at least we have another property in a great appreciating market and are no longer spending the $800 on her rent3- Buy a place for her in Orlando, same scenario as above but obviously a lesser mortgage since its FL and not CAWe found a great turnkey company we liked so if we do option one I think we will use them, but it just feels like if we do that we will still be tossing away what we currently pay on her rent. 

You can get a second one for the property you wish to STR.There is a two-guest per bedroom limit, but there's no possible way they're going to bust you for going over it.All in all, the regulation is great if you live in the city because it effectively blocks outsiders.

Plenty of cash sales over the past several years.#2 Keeping your current home as a rental in $1million neighborhood probably makes no sense even if you have super low interest rate. 

As things continue to grow in your market other investors will likely become more interested in buying there making your property a hot commodity.

My father resides in this property and is managing the flip, leveraging his extensive experience in property renovation.Financially, I bring to the table a stable annual gross income of $270,000 from my successful healthcare company, which will continue to support my real estate endeavors.