Also, does this apply to an owner who owns and manages their own portfolio?  

Throw in some washers and dryers in the units—it's a game-changer.

Quote from @Dan Grove: Hi friends,I'm starting to build a portfolio of long term rentals using creative finance. 

Let’s be honest, I’ve watched folks who jump into this game as if playing roulette.. firing off offers on duplexes in Phoenix or leaning on some “sure-thing” house hack in Austin without ever sketching out their plan.

They used that period of unemployment to skip paying student loans and then try to get some kind of program/hardship deferral or something aka "gaming the system".

Negotiating felt like a game of chess—except I was playing against a grandmaster, and my queen was missing.

Focus on what the rents will look like post-renovation with 4 units instead of 2, and have a clear game plan for refinancing to pull your capital back out. 

Once again, that is the myth that started from Wall street trying to sell their portfolio.

I am the VP of OmniKey Realty LLC and we specialize in working with investors to grow their real estate portfolio.

I have one of my ex-homes in my portfolio.