The bathroom looks like mold central.

The property is a 3 bed, 3 bathroom, 1600 square ft , single family home listed for $29,900 and located in Pocomoke, MD.

Once the construction aspect is finished, the building will be rented out, with each unit containing 2 bedrooms and 1 bathroom.

My question is, upon getting the property re-appraised after strategic renovations to increase the value of the home (Kitchen, Bathrooms, Flooring, etc) would I need to refinance to get the PMI removed or would it simply phase out as I should now have more than 20% equity in the property if everything goes according to plan.

But after I have had guests complaints with things like forgetting to empty trash, food left in the oven, no towels or soap in a bathroom I have reconsidered it, and starting over with a new crew.

It has been some time since I looked at hard numbers, but in the past, in my area, you could build at a 15% discount from retail.

I offered to pay the difference of what it actually cost him and 3months rent (so if billed labor was $3k, I’d just pay the GC $150).Reasons why I like this:-Building rapport with this GC and his businesses-I get my reno done professionally at a heavily discounted price or potentially free-unit was going to sit empty anyways during my deployment, but now has a handy guy living in it-short term deal with the GC, at most I would sign a 6 months contract and charge the actual amount beyond the cost of renoThings I am getting done:-Laminate floors install and base boards-Cosmetic touch ups in bathroom (to include dry wall)-new front door/frame install-putting up ceiling fans -replacing cast iron pipes for sewer linesWould it be a good deal, all things considered?

Purchase price: $161,200 Cash invested: $1 Duplex with 3 bedrooms and 1 bathroom per unit.

Purchase price: $178,000 Cash invested: $50,000 Duplex, 3 bed and 1 bathroom per unit.

If my math is right you could almost double a properties income potential by adding an Accessory dwelling unit which will probably cost less than 10-20% of the initial home purchase price.Example:SFH purchase: $400,000 renting at around $2,100-2,500 (after about $5,000 updating)Garage Conversion: 25,000-100,000 (maybe less if I can find one with a bathroom next to the garage)1 bedroom renting near Fairfield CA: $1500 monthA lot of these numbers are idealized but this could bring the Property near to the 1% rule.400,000+25,000+5,000 = 430,000(2500+1500)/430,000 = .93%Now if we get this to work and we take it a step further and add a second ADU to the backyard for 100,000-200,000 we could add a 2 bedroom and add more incometotal cost: 430,000 + 150,000 = 580,000rent for 2 bedroom: 2,000Total income: 6,0006,000 / 580,000 = 1.03 %Do these number look relatively reasonable to anyone that has more experience with adding adu's in California?