You might find that building a solid relationship with one quality lender might be far easier and better for you to more quickly scale your portfolio. 

They're not buying turnkey; they're hunting for distressed properties.It's that "BRRRR" method (Buy, Rehab, Rent, Refinance, Repeat) that seems to be the most common path to creating value right now.

And while nothing is foolproof the most consistent method of finding good vendors is relying on OTHER real estate investors that have worked with those vendors.

If the work appears permitted quality, the appraisers never check the permits in my market.  

Setting return aside for a moment, I’m trying to understand how liability exposure is actually managed under this structure.Specifically, how do you maintain control over the quality of vendors performing work on the property when maintenance and management is delegated to the tenant?

This is why the BRRRR method provides generational wealth over time.

If you find a 2 bedroom house that you can add a 3rd bedroom, you should be able to force some appreciation if you do quality work and buy it correctly.

IThe detailed engineering approach from actual cost records, also called the “detailed cost approach” or “direct cost method”, uses cost information from contemporaneous construction and accounting records.

. $245 per square footRental & ownership perspective:This type of property could work for:An owner-occupant living in one unit and renting the otherFriends or family members purchasing togetherOr a buyer holding both units as a long-term rentalAccording to HUD Fair Market Rents, a 3-bedroom apartment in Exeter in 2024 rents for roughly $2,500/month (actual rents may vary).Financing assumptions (illustrative only):Conventional loan with 5% down (~$42,500)Estimated closing costs of 2–3%, bringing total cash needed to roughly $65,000Exeter (like other towns in the SAU16 district) has higher-than-average property taxes compared to the stateWith 2024 interest rates in the high-6% to low-7% range, estimated monthly payment (principal, interest, taxes, insurance) would be around $7,400.Who this type of property may fit best:🏠 An owner-occupant looking to offset housing costs🤝 Friends or family co-buying to access a high-quality Exeter property📈 A long-term investor prioritizing appreciation and stability over short-term cash flowCurious to hear others’ thoughts 👇Is mid-$800k’s what you’d expect for a 2-family in Exeter today?

Biden flirted with the idea in 2024 but failed to gain traction with it due to widespread consensus that such measures disincentivize new housing construction, worsen supply shortages, and lower property quality.