Immediate rent increases, strategic renovations, and vertical expansion can transform this property into a highly lucrative asset.Side Note: Want to learn more about converting Philly’s RM-1 properties to add units?

I am in the process of converting my previous residence into a long-term rental.

Lehigh Valley, PA.Had one for a while, ended up converting it to long term because it wasn’t worth the extra management

I would like to start converting 50% of our built stock to a rental portfolio.

After seeing how people work their pipelines, I realized something surprising:Many deals are lost after the seller already showed interest.Not from lack of leads, but from:Late repliesMissed follow-upsNotes scattered across toolsNo defined lead stagesNo accountability on daily pipeline actionsThe person who consistently close more usually have:One place where every conversation is loggedClear stages (New → Contacted → Follow-Up → Appointment → Contract)Automated or scheduled remindersA daily or weekly pipeline reviewNext steps always set before ending the callNothing fancy, just fundamentals done well.In many cases, tightening follow-up converts more deals without increasing marketing spend.Are you currently managing follow-up and pipeline visibility in your business?

The long-term goal would be to eventually sell the multifamily properties once our cash flow reaches a certain level and transition to being completely debt-free, living off the rental income from the fully paid-off homes.Does this seem like a sound strategy from an investment perspective?

Anyone selling $10K–$30K courses on this model is skipping the hard part: local law.Co-living can work great, but only with:proper screeningstrict house rulesweekly cleaningclear expectationscompliance with your city’s occupancy limitsThere is no legal shortcut that magically bypasses zoning + occupancy limits.If your city caps at 3 unrelated adults, the only legit ways to go above that are:Zoning for rooming / boarding houseConditional use permitsAssisted care licensing (totally different world)Converting to multi-unit legallyEverything else is “guru fantasy land.”

@Chad LabrecqueFirst, you could look at what your NOI might be if you converted your primary residence into an investment property.

Markets eventually come back stronger and higher and more importantly more profitable than before.  

The other, is a two-family home that I am house hacking at the moment, with the intent of fixing it up & eventually moving on and placing a tenant in the unit I currently live in.