We ended up going way over budget and turning it into a single family residence and selling at very little profit due to loss in labor.

Quote from @Kim Li: I own a single-family rental that I plan to sell and use the proceeds (approximately $340,000) toward purchasing a duplex for about $1,000,000.

Quote from @Brendan Winans: I Made My Largest Single Profit to Date: $250K in 12 Months on a FourplexEarlier this year, I closed out a value-add fourplex that generated a $250K profit in just over 12 months.

For a single-family residential property, the options outside traditional rentals are limited by zoning, but there are a few creative paths people have successfully used, like home offices for remote workers, small professional practices, or creative studios if local ordinances allow. 

Many investors start with single-family because it’s a great way to learn the ropes, build equity, and get comfortable with the process before scaling into multi-family.

You might find a single-family in a better area than a multi at the top end of your range, which could help with long-term appreciation and tenant quality.

I do think Multifamily certainly has advantages over single family, but single family has advantages as well.

As more investors move into small portfolios or commercial deals, growth management becomes critical.
What’s your go-to strategy for scaling — partnerships, refinancing, or creative funding options?

But single-family homes can still compete if land value is low or outdoor improvements are high.Bottom line — it’s not “condo vs. home,” it’s after-tax cash flow vs. headaches.

Cash invested: $50,000 This deal involved providing private money for the renovation of a single-family home known as the “Santi property.”