I agree with Nathan (don't forget to price running extra water, sewer and electrical lines).  

Our 275 sq ft furnished garage should rent for $1600 - $1800/mo and the only extra fees compared to long term is $99/yr to post on furnishedfinders.com. ...I should have this finished by the end of next month, so can keep you updated on whether this plan works and what we rent for. 

Three Months ago, low to mid 6's were available.Rates are going to continually fluctuate but if you have a way to earn 10+% on your capital, the TIME you are not using it is going to cost you way more than the extra .5% per year will.You are walking over dollars to save pennies if you are waiting for the perfect rate, half of the people who held out on getting mid 6's were waiting for high 5's.

Financing OptionsParent Loan Options: Consider home equity loans, investment property mortgages, or co-signing a loan.Tax Implications: Speak with a financial advisor about potential deductions and capital gains.Rental Income Potential: Explore the option of renting out extra rooms to offset costs.5.

A few other things I'm considering;- I don't need the extra cash flow to live and am just approaching it to remove the high mortgage interest, but also hedge risk that the current stocks might tank in a few years.- Could take all current cash flow and a few thousand a year to pay off the property in 5-10 years.- Hold for a bit and 1031 into something else but am fairly confident there is not much appreciation to come on this property.

It sounds like a few people on this thread don't really understand how PMC's operate or why they may charge extra fees.

Just be sure to stay on top of your contributions, fees, and any extra paperwork so you can get the most out of those “triple tax” benefits.Hope this helps!

I can't imagine how much extra time is spent without having automation.

While the heater issue adds extra stress, addressing it promptly will protect you from further fines and penalties.

If your average heating bill is $150, you may not collect enough in the winter months when the bill reaches $225 but you'll collect extra in the summer when it drops to $65.