do you know your total valuation model number before and after the permitted garage conversion? 

Again, I'm just looking at these investors and wonder why they think its better to put their money into cd's making 5% when STRs clearly make a far bigger return - especially when you put them in a 5 or 10 year model. 

It is an interesting business model.  

In Joes model, there is infinite leverage and therefore unlimited liability.

Both of those models involve potentially comprehensive rehab to make a good return and new investors often hire the wrong people and spend way too much.Higher returns on her money can be found in debt fund syndications which are totally passive and can pay 12%.

My model projects these can be without private or individual site water, power, bathrooms, and/ or wifi and still be worthy investments. 

If the tenant wants a fan they can buy a floor model and take it with them when they leave. 

Once you get your systems down, you have a real estate business model that you can take to any market and be still be successful.

Many panels allow for a certain number of these but it depends on the make and model. 

One attorney told me I did not need a PPM for the business model and the state disagreed.. paid a small fine 5k created the type of PPM they wanted and that was the end of it Plus I did not get sued I got a cease and desist big difference which of course you simply dont know the difference ..