For the first 6 months I ran it as a AirBNB and after 6 months I converted it to a long term rental.

The more I learn, the more I think they may not be the case, and I'm curious if I need to go back and amend any taxes from previous years to ensure I am following all regulations.The details:-two-unit home that was converted from a SFH by a previous owner.

I am weighing the options of converting my single family home into a rental, verses selling it.

The plan is to cut 4x8 boards by half and install them and use basic wood molding throughout the basement which is about 1000sq feet$4000 for drywall replacement, plaster of about 5-6 inches wide and moulding$2000 for paint if we want thatInsulation will be $800 extra if we want to do it - they plan to use fiberglass insulation and push them up all the way into the ceilingDoes this look reasonable, even for NYC?

I've since moved out of that house and we are converting it to an airbnb in the hopes to increase monthly income. 

Quote from @Jessica DiPonziano: Hey there,im new to the space but recently converted a unit to a fully furnished MTR and was able yo get it tented out fairly quickly for 3 months.

., converting a bedroom into an office or studio).

Many duplexes are  built this way in North Jersey but legally converting them tends to be an up hill battle.

@Damion Brown Why not just use a bank originated construction loan that converts to a permanent loan?

Both CC and FM have seen exponential increases in inventory – almost doubling 80% and 90% (this converts to 10+ months and 7+ months of inventory), days on market 70% and 160%, and new listings 62% and 24%.