With comps ranging from $875K-$1M and your estimated build cost at $550K, the after-completion value gives you a significant equity cushion, making this project highly attractive to lenders.If you plan to hold and rent the property, you could refinance into a DSCR loan after construction, which bases lending on rental income rather than personal income.

Hi Erica, what I've notice is that high-quality (high-priced) washer and dryers don't out perform other based price models in rentals. 

We’re property managers based in Redding, CA, and the laws here favor the tenants, making situations like this even trickier.

Forgot one detail the new California based lender committed to funding as long as the property isn't in an evacuation warning area.

The rule is based on if it's "within the primary dwelling unit" of the taxpayer or not. 

You can get something that's turnkey or new construction at this price point, and most importantly, there's a strong tenant base ready to rent out these homes.

I think both of your strategies have merit, but here’s my take based on what you’ve laid out.Moving to a rent-stabilized apartment and renting out your condo as a mid-term rental could be a smart pivot, especially with its location near a hospital and LGA.

These forums are a great place to learn and connect with fellow investors.I’m an investor based out of Columbus, OH.

Following - I'm based in California 

Retirement accounts are designed to be invested passively so when the IRS sees you running an active business in it, to level the playing field between retirement accounts and other business the retirement account incurs UBIT.