The specific area is a hot area with lots of flips happening over the years and is highly desirable for young professionals such as myself working in the growing tech presence in the city.

In short, unless you plan to do some significant rehab and hold it for another year, I doubt you could increase the valuation with the high revenue.

Depending on your market, calculating vacancy should be fairly straightforward, not to mention rental demand is at an all-time high.

Sellers have been on the market for more than a year with interest rates high and many are starting to realize that buyers won't be able to pay the prices of pre-2022.

The capital growth vehicle could be flipping, wholesaling, agency, owning another business (photography), or just a high income job.However, when searching for properties, pull the list for what you are wanting and hoping for, but don't say no to a flip.

rental market is softening nationwide.. you maybe priced to high.. and you don't want to just slam anyone in there because its been 30 days. 

I've seen assessment that need to be paid by each owner between 30 to 50k on the cheaper side (some as high as 60-80k) while their HOA doubled to collect up for their reserves and unforeseen higher cost. 

As for where to invest it, I would consider a High Yield Savings Account, right now you can earn up to 5% on your money and its accessible whenever you need it.

This is part of an association of a handful of properties that share a private beach on a highly desirable lake in Michigan. 

We now own a highly desirable duplex with instant equity, cash flow, and no money invested.