was just re-listening to your episode this weekend as I'm looking into some rezoning options myself!

I also agree that RE appreciation is unlikely to match the last dozen years, but you never know.Where I am unsure we agree is that paying $450k to improve the cash flow ~$3k (your numbers but I expect my delta wold be similar meaning both my cash flow estimates would be worse than yours but both would be worse by the same amount not affecting the difference) makes sense especially if the cost of having the extra $450k is only 6% rate which is historically simple to beat via numerous investment options and hopefully no one is investing in RE for an expected of 6%.  

I came across Bigger Pockets and read some articles, and listened to some pod casts.

Also listen to them if it is difficult to get financing...they're telling you that your math may be off.

I'm a leader, not a boss, but they see and hear far more than I do so I'd be an idiot not to listen to my team.I think as you grow and expand, you too will do the same whether as a Transactional Lender or anything else you do. 

Quote from @Christopher Morris: Hello BP, I have been reading up and listening to podcasts on house hacking especially in NJ (Jersey City, Montclair, Bloomfield).

@Jason Wray hello the only reason I was considering host financial was because it was a sponsor of the bigger pockets podcasts that I have been listening to with Dave.

I totally get it – sometimes it's just about being there for people when they’re ready to listen.

I have gone to numerous RE meetups and discussed numerous ADU appraisals and was heavily involved analyzing one (that gave a value of ~$50k for a ~400’ garage conversion 1/1.  

Yet, no one seems to listen.