My current asset allocation based on age and risk tolerance not counting my primary residence is 70% stocks, 20% RE, 10% cash/bond type vehicles. 

If they owned the house within the past 5 years, it will count as an asset even if it's been sold. 

Typically, the adjustments I see on appraisals for basements are more flat rate adjustments. 10k is usually the number I've seen.What stinks is that there are a couple of model types that have below grade space where the builder, I'm sure, was trying to lower the taxes by having it below grade so the county wouldn't count that space in the assessment.

Quote from @Joseph Soto: I’ve learned a ton from Pace Morby, and honestly, he’s changed my life in more ways than I can count.

Brewerytown and East Passyunk could also be worth exploring.Big projects like Bellwether can boost neighborhoods, but they often take time to show results, so don’t count on them as a main factor.

Unfortunately - my current lot for my primary is 1 acre and VERY sloped, and close to a water source (creek), so the county has not even allowed me to permit my downstairs finished basement without an extremely costly renovation to our septic (over $60,000, and that doesn't count demo'ing and replacing our driveway to get to the existing tank and leachfield), and even if I could permit it, it would essentially need to be a treehouse in the redwoods due to the slope (not a bad idea though, I would actually love a livable treehouse on this lot!

For the multi-family, lenders typically count about 75% of projected rental income toward your debt-to-income ratio, which should help if the property is cash-flowing.

Went over budget and still counting.  

As unit count grows there is an arch of risk exposure that grows, crests, then starts dropping very fast.

That is on one of the largest arterial streets in the city, massive traffic count.