My goal is to convert at least 1/4 of the units in a multifamily I buy into medium term furnished rentals (gradually) to bring in more cash flow.

My goal right now is show them a few different options and the financials.

If you evaluate the long term goals of your property does it align with having these tenants? 

Think big, but have a plan to match your most ambitious goals and stick with it.

For funding, explore options like FHA loans, personal savings, or creative financing, and focus on New Jersey markets that align with your goals, such as Newark for rentals or commuter towns for house hacking.

It’s a pretty big project but great opportunity.

Are there any strategies here to utilize bank funds for our project?

What if franchising is part of the strategy, with a long-term goal of acquiring properties as well?

I’ve done a couple of fix-and-flip projects in the past using a hard money lender (HML), which has its pros and cons.I’m currently looking at a couple more properties and trying to decide if I should go with an HML again or explore other financing options.

@Dan AudinoFor path #1, is your eventual goal to rent out the property?