All Forum Posts by: Ryan Spath

Great question and honestly, I love that you’re looking at this through the lens of both house hacking and forced appreciation potential.

Nothing is too big for anyone if you know what you’re doing (or surround yourself with people who do). Properties like this can be incredible opportunities if you take the time to understand zoning, permitting, and the path to making those separate units legal and functional.

That said, it’s important to go in with clear eyes on scope and cost. Soundproofing, fire separation, and utility splits can add up quickly but if the bones and layout already work, it might just need strategic upgrades and proper documentation to create real value.

If you decide to move forward, connect with a local investor-friendly agent, contractor, and even the local planning department early on. They’ll help you clarify what’s actually required versus what’s just “nice to have.” Also, if you write an offer, have your agent request a longer "inspection period" so you can perform more due diligence and make sure you can accomplish what you are wanting to. 

Projects like this are how many investors go from beginner to experienced quickly just make sure you’re buying right and have a plan for each phase.

Welcome to BP — great to have you here and awesome job taking that first step with the multifamily course!

If you're just getting started and don't have a ton of capital yet, one of the best entry points is the FHA house hack. With as little as 3.5% down, you can buy a 2–4 unit property, live in one unit, and rent out the others to help cover your mortgage. It's one of the most practical ways to build experience, equity, and cash flow at the same time.

From here, focus on becoming a pro at analyzing deals in your local market. A good rule of thumb is to analyze 100 deals, make offers on 10, and expect to get 1 accepted. The repetition will help you quickly recognize good numbers and strong opportunities.

Keep learning, attend local meetups, and join Facebook groups where other investors in your area share real-world insights. And finally, connect with a local investor-friendly agent who can guide you through financing options, deal analysis, and finding properties that fit your goals.

You’re on the right track — stay consistent, keep networking, and your first deal will come sooner than you think!

You could always loop in a local investor friendly realtor to help you with this...

Hey, welcome to BiggerPockets and congrats on the move to Knoxville!

If you're just getting started, one of the best entry points I'd recommend is a house hack using an FHA loan. It's hands-down one of the most effective ways to get the flywheel moving early on. With FHA, you can:

Put as little as 3.5% down, keeping more capital for reserves or future deals
Live in one unit and rent out the others (if you buy a duplex, triplex, or fourplex)
Use rental income to help qualify for a larger loan amount
Start building equity, gain landlord experience, and position yourself to refinance or 1031 into your next property down the road

It’s a great way to reduce your living expenses (or even live for free), learn property management firsthand, and start stacking assets early. As an agent investor here is the Treasure Valley I have been able to help Clients first hand with this and it is amazing.

If you haven't already, start by connecting with a local agent or lender who understands investing they can help identify FHA approved multifamily properties and estimate what the rents would look like in your area. Local meet-ups and Facebook groups are a good place to network as well.

Welcome again you’re absolutely right that the first deal is the hardest, but once you get that first one, the momentum really starts to build.

@Kevin Kolloff

Hey, welcome to BP and congrats on your passive investing success! My wife and I started by building our foundation by saving diligently and moving strategically to take advantage of better financing through primary residence purchases.

Over time, we’ve used tools like the 1031 exchange to scale our portfolio, even relocating out of state to expand into new markets. Today, we manage both local and out-of-state properties, and we’re actually in the process of moving again to purchase another primary residence which will turn our current home into another rental.

It’s definitely a slower, steady path, but it’s been one of the most effective ways for us to grow while minimizing risk and maximizing financing options.

I’m also an agent here in the Treasure Valley and have helped clients build wealth through real estate from purchasing cash-flowing duplexes to successful house hacks and even acquire property that will be an Airbnb. I’d love to grab coffee sometime, hear more about your goals, and see how I can help you take the next step.

Hey, welcome to the community sounds like you’re in a great position to get started! You’ve already done a lot of the hard work by staying debt-free (outside your primary) and thinking strategically about both location and purpose. Having two universities nearby gives you a built-in advantage for both mid-term and short-term rentals visiting faculty, grad students, travel nurses, and parents visiting campus can all be strong, consistent tenant pools.

One of the most valuable things you can do right now is get plugged into local meetups. Check out Facebook groups for investors near Indy or Fort Wayne and see where people are gathering. Once you show up to a few, you’ll naturally get connected with investor-friendly agents, lenders, and property managers who know your market inside and out. That network will shortcut your learning curve more than anything else.

When it comes to scaling, I’m a big believer in the “save up, don’t trade up” approach. Basically, buy a primary residence every 1–3 years, live in it for a bit, then convert it into a rental when you move on to the next one. It’s not flashy, but it’s one of the most reliable ways to build a portfolio while taking advantage of lower down payments and better loan terms.

If you and your wife maintain a solid savings rate, this can quietly turn into something powerful. For example, if you bought a new property every two years for 10 years, you’d own five rentals plus your primary. Even if each nets just $1,000/month, that’s $5,000 in passive income enough to cover your mortgage and add real financial breathing room.

Real estate wealth isn’t fast, but it’s steady and you’re already setting the right foundation to win long-term

Moving from “analysis” phase to taking action is the biggest hurdle for most new investors! Congratulations on getting gin the game. House hacking a duplex is one of the best ways to get started investing. There will be a steep learning curve! Here are a couple things you may find helpful:

1. Create a system and stick to it, document everything
2. Find your favorite rent collection tool (many are free or very low cost)
3. Lower your rent, not your standards

Best of luck with the house hack. If you have any questions, please reach out.

That's a solid plan you've laid out, and you're in a strong position with $80k saved, solid income, and the VA loan at your disposal. House hacking a fourplex in LA with your friend could be a great way to stop throwing money at rent and start building long-term wealth.

A few thoughts as you move forward:

• VA Loan Advantage – Being able to put as little as 0% down with no PMI is a huge benefit. Just double-check with your lender how joint ownership with your friend will work under VA guidelines, since technically only the veteran can use VA financing. Sometimes the lender will structure it in your name and handle his equity/ownership on a side agreement. Worth clarifying early.

• Reserves – I like that you’re already planning to seed an emergency/vacancy fund with $40k and contribute the extra savings each month. That kind of discipline is what keeps house hacks from turning into stress.

• Partnership – Since you and your friend are already business partners, you know how each other operates under contracts, which is a huge plus. I’d still recommend getting a clear operating agreement for the property (how decisions are made, how capital calls work, exit strategies, etc.), but you’re ahead of most by having that foundation already.

• Numbers Check – On the surface, $9k in expenses vs. ~$10k–$12k gross rents looks promising. Just make sure you’re factoring in maintenance, capital reserves, and management time. Even if you’re self-managing, those costs are real.

• Long-Term Play – If you buy right and hold, rents in LA historically have strong appreciation. That makes the numbers better year after year while your mortgage stays fixed.

Overall, you're thinking like an investor and setting yourself up well. If I were in your shoes, I'd keep underwriting deals until you find the one that pencils best and lock it in while you've got the VA eligibility

@Jerry Vestal I personally have not done this, but own a property in Boise, Idaho where the city wants to increase the density, and we are considering adding an ADU. Based on my experience here are some actionable items for you.

 A couple things I’d look into right away:

1. Call your local planning/zoning office – ask what your property is zoned for and if duplexes are allowed. If not, ask about the process for a variance or rezoning.

2. Subdivision rules – confirm the minimum lot size in your town/county and if your 2–3 acres could be split. They’ll also tell you if you’d need additional road frontage or utility easements.

3. Utilities – check with the water/sewer provider (or well/septic if that’s what you’re on) to see if they’ll allow a second dwelling. Sometimes this is the biggest hurdle.

4. Local builder – talk with a builder who's active in your area. They usually know what's been approved recently and can give you ballpark costs for a duplex build vs. other options (like adding a rental unit/ADU).

From there you can run the numbers: would it make more sense to build, live in one side and rent the other + your current house, or sell off part of the land and roll the proceeds into an existing duplex somewhere else?

A quick round of phone calls to zoning + utilities will usually give you a pretty clear answer within a week.

Best of Luck, keep us in the loop as to what you find out and what you end up doing. 

I totally agree with this 💯. Responsiveness is everything—especially in this market where great opportunities can disappear in hours. I’ve also noticed that a lot of people today don’t even want to pick up the phone, so meeting them where they want to communicate (text, DM, email, etc.) has been just as important as the speed of response.

Curious—what type of tech or AI are you using to help stay on top of this? I’ve been experimenting with different tools to make sure no lead slips through the cracks, but I’d love to hear what’s working best for others.