And FYI- if you're going to utilize an Engineer, they may not be comfortable being responsible for the entire house.

@Kenneth Willis I can probably help.How many lots, what is the lot rent, how many are occupied, what is the source of utilities and who pays the utilities?

Pay to separately meter the utility.

We bought at 375k, are currently renovating the basement, and have income of $4725 (before utilities, insurance, and debt service) right now.

Hey John,Sounds like the answer would be to utilize a DSCR lender that utilizes either pre-established STR rental income (if you can prove with AirBNB/VRBO statements) or a few that are still UW with AirDNA or a similar STR income projection program.I am aware of a few still doing it at this time, and if you can show that you know what you are doing you shouldn't see much of a cut in LTV if at all.Happy to connect and see if we can help.Good luck!

The city told us that all the owners of the 6 properties had to submit and sign a new subdivision application so that the city could issue permits and turn utilities on for the investors that were requesting it.

A legally suited detached with garage is around the $375k - 450k point (in decent shape). 3 bedroom, 1.5 bath main floor around 1100 sqft can rent for $2000-$2200 a month (utilities included). 3 bedroom, 1 bath basement can rent for around $1600-$1800.

You may directly pay some municipal utilities as in most places those become liens if unpaid.

But, once I was able to eliminate the non sense and the outdated, and work my way thru the pointless, I was left with excellent strategies and techniques most investors don’t know about and even less utilize.

That rent does include utilities, so the more utilities included in the rent the more Section 8 will pay for rent, but not more than the Median Rent.