The ABCs of Real Estate Investing: The Secrets of Finding Hidden Profits Most Investors Miss7. 

Refi’d, so 28 years left on the loan.Current FMV: 430-445kPros for selling: I could potentially walk with a nice profit on this house.

Going from 1-2 may be a lot easier but when you start adding more than 2 and depending on how high the structure is you get into fire escapes, sprinkler systems etc...The more important question you need to ask is not is there a market for this but can I legally make a 2 unit within the local building codes and keep it financially on point so the project will still be profitable when completed

I did an exercise recently that showed the average appreciation on the average San Diego SFR in the last 5 years exceeded the cash flow on the average Midwest SFR for the last 50 years.Do you know how many months at $200/unit cash flow it would take to achieve $200K profit? 

It would take years of Midwest cash flow to equal the profits from the last 5 years of market appreciation. 

From my perspective, what financial tools would be available to me to utilize this status for profit? 

I avoid these small wholesale deals (especially after the one I mentioned above) because the taxes could make it not worth the while.Apologies if this is a newbie question, Im used to making more profit and expecting up to 1 year of property taxes max, getting a discount at the beginning, then playing catchup at the end, ultimately paying p. taxes for the time I hold and carry the property.

Difficult to generate positive cash flow at that cost.

I also know there is no perfect plan to follow when getting started but I'm trying to weigh the pros/cons of going the SFH route (at first), pay cash for the first couple, generate that cashflow and build it from there.

Invest as much as you can, and roll the real estate profits back into more properties.Good luck!!