House Hacking in Westchester

[Marcus Minott]

Good evening, I am interested in starting my real estate journey through house hacking. At first I was looking only into multi family properties but I am now considering buying a single family home with a fully finished basement. I have a couple of questions regarding this idea:

1) can you use projected income of the finished basement unit for a SFH the way you can for a multi family unit? Bear in mind I plan on renting the house unit and living in the finished basement, so the opposite question applies too

2) I have been told that there is no cosigning or guarenteeing for mortgages in NY, only coborrowing. Is this true?

3) How long and expensive is the process of making a half bathroom into a full bathroom? I understand it depends alot on the structure of the house, but I’d appreciate estimates.

I would appreciate especially any input with experience in NY. Thanks in advance