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.

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.

Holding any asset in an entity as opposed to personally MAY limit potential liability solely to that entity and not expose other personal assets.  

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. 

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.

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.

If the deed or loan is still in your personal name (which is common even when the LLC “owns” it functionally), they include you to make sure there’s no gap in coverage.

If you’re in the Boston area and could use a reliable personal assistant to support you with property management, operations, or general tasks, I’d love to connect and help however I can.Thanks for reading!

Read reviews, get personal referrals. 

As the first project, I would suggest a small single-family or multifamily property that requires small to medium renovation, and hold it as a rental or flip it on the market.