Red Squirrel
No Lifer
I really have to stop looking at real estate. 2000 sqft 50k house in a lower taxed area for sale right now. It's gutted, so it's down to the studs. Fresh slate basically to rebuild it very well. Not exactly my country living dream... BUT at that price I could totally fix it up and rent it out and make extra income. It's a 3-plex right now. I imagine I'd have to put a good 50k into it to finish it though, if more, and all that stuff would probably require permits and stuff if I plan to rent it out... so add another 50k for all the red tape stuff and a tax hike too (taxes go up by a percentage of the cost of the work each time you get a permit) Probably need special and expensive insurance too for renting out because of liability and all that stuff. Probably lot of code stuff I'm not thinking of too and lot of gotchas when it comes to renting out. So yeah not worth the hassle but it's a thought.