I’d basically break even.

Where it goes sideways is definition matching and assumption matching.1) Cap rate valuation - The basic formula is correct:Value = Stabilized NOI ÷ Cap RateSo yes, if you truly had:Annual NOI $19,039Cap rate 7.3%Then $19,039 ÷ 0.073 = about $260,800.

. $50k principle valued at $21k for Roth conversion.Here's a thread on BP started by @Dmitriy Fomichenko explaining this strategy in detail.

The number of issues is so large I can't concisely describe them all now, but to summarize, Latchel is exceedingly slow to respond to all maintenance requests, including emergencies, and basically fails to communicate any information regarding the status of repairs.

Tile floors, basic cabinets, standard fixtures.

So there is basically no way to avoid the penalty, even if I make quarterly payments?

For larger improvements, the biggest mistake I see is treating capital planning as a project-by-project decision instead of an operating system.A few principles that have worked well across multi-property portfolios:1.

At a high level, many investors choose to separate properties into different LLCs rather than holding everything in one entity.The basic idea is risk containment.

The same principles hold true across a wide range of real estate sectors — including industrial, flex, healthcare and medical, student housing, retail centers, land, and specialty assets like sports and recreation facilities, among many others.The core message is exactly what you described: real estate investing should be approached as a toolkit of strategies, not a single-asset playbook.

Just tax basics here but LLCs can hold any tax election/status (disregarded, partnership, S-Corp, and C-Corp) but the default elections will be based on how many members are in the LLC.