Using 203k for expansion and additional unit.

[Shanell Law]

Hello, Using my duplex, I’m thinking of adding 200 sqft (which includes a bathroom onto my detached rear unit making it a 2/2 unit. I also want to add an additional unit on top mirroring the floor plan below. My duplex is currently located less that 2 miles of the ground breaking LA Rams Stadium... a booming area with awesome rent comps. The duplex itself is already cash flowing and I owe less that $340k. I’m awaiting contractor bids but I’m almost 100% sure the property will continue to cash flow. I’m thinking of using a 203k lender to fund the cost of expanding and adding unit. Please share your thoughts and suggestions. Thanks!