Use an online mortgage calculator to determine how much that payment will translate to a mortgage amount. 

This translates into maybe putting tile in place of worn out carpet, etc.Other tips - have a wind mitigation and 4 point inspection done….

The coverage you would ask for is called Improvements & Betterments or Additions & Alterations or similar.   

FHA is just going to translate into time consumption to them. 

For example, that no more than 25% of the existing SFR may be demolished/altered to make way for say an access driveway easement for the new rear flag lot.

Translation: home inspectors are required to tell you a potential problem exists but not allowed to tell the extent unless they are certified to go into more detail.

Call me a cynic, but in my experience a local saying “I’m just looking for a quiet weekend with my beau” can be translated directly to “I’m going to invite 30 people over, trash your house, and if all goes well the police will be called and you’ll have to pay your cleaners more than you earned on this booking.” 

> Need To Know: It is not known to me whether hot/ cold housing market also translates to hot/ cold rental market, at all times.Thank you in advance.

I have found this to be beneficial as a poorly operated multifamily generates less income translating to lower property valuation. 

What do those percentages translate to in terms of $ amounts?