Staffing, maintenance, seasonality, and guest management are all very real challenges, particularly on the East Coast where you shut down and basically have to rebuild the team every spring. 

I am familiar with a case in NV were the guy ripped of hedge funds for 150 mil through fraud very basic fraud just photo shopped bank statements to make his start up look like it was making tons of money when in fact it was broke..

Some of us hold CPA licenses, some hold EA licenses which is basically the same.

We can turn around quotes in 2-3 biz days after receipt & review of basic property financials (rent roll, T12 financial statement, AR report). 

PLUMBING — SUPPLY LINESRemove all accessible galvanized supply lines in basementInstall PEX trunk and branch system to each unitNew main shutoff and individual unit shutoffs (label by unit)Proper supports, labeling, and pressure testNo in-wall work unless absolutely necessaryPLUMBING — DRAINSReplace all horizontal cast-iron drain lines in basement with PVCReplace only visibly failed vertical sectionsAdd minimum one accessible cleanoutCheck all vent stacks in atticInsulate exposed vent stacks as neededTie into existing stack and sewer lateralELECTRICALRemove abandoned/exposed knob & tube in basement and attic onlySecure open junction boxes, cap unused wiresPanel tighten, label, safety checkReplace unsafe breakers if found (no panel replacement unless quoted separately)Install basic LED pull-chain or strip lighting in basement common areasWATER MANAGEMENTSeal visible foundation penetrations and cracks (interior)Improve grading where soil slopes toward foundationAdd/extend downspouts to discharge away from structureI suggest doing a renovation of the units individually to achieve the targeted monthly cash flow and appreciation. 

At some point, the biggest learning jump comes from underwriting real deals and talking to lenders, agents, and property managers.For a duplex or triplex house hack, I’d focus less on “financial freedom” narratives and more on execution basics: conservative underwriting, realistic rehab/maintenance assumptions, and making sure the numbers work even if things don’t go perfectly.The goal of the first deal isn’t optimization, it’s getting through one full cycle cleanly so you can repeat it with confidence.Best of luck!

Love what you're building — you're basically turning ChatGPT into a portfolio analyst. 1.

Once you understand a pocket well, it becomes much easier to spot a deal and know when to walk away.It also helps to put together a basic plan you can repeat on future projects.

You’re basically pulling future depreciation into this year.Two things to watch:Make sure the rentals are truly rental activities for passive vs nonpassive rules — big losses don’t help if you can’t use them.Get the study done by someone who actually knows residential rentals, not just big commercial.So: yes, you can do it now, yes, you can catch up, but no, you generally don’t get to go back and grab the old-year bonus as if you’d done the study in 2020.

First, basic accessibility is not sufficient on its own to exceed unit numbers in RT-3.5 zoning and an ADU is still subject to density restrictions unless your city has its own ADU ordinance or pilot program in effect on your lot.