A few months go by and unbeknownst to me the escrow account had now drawn negative which triggers the lender to no longer apply what’s considered a “partial” payment to them, given that I’m now paying less that what’s due given the escrow increase required but not relayed to me even though I expected it at some point.Last month I’m on Zillow looking at the value of my properties.

I’m looking to access some of the equity in the home to buy out my ex-partner, and my goal is to either convert the house into a multifamily property or add a dwelling unit (ADU).I’d love to hear any advice from the community on the best way to approach this, particularly in terms of financing options, legal considerations, or any similar projects you've completed.

I’m having a hard time finding a great price in a great location and I just can’t seem to pull the trigger on anything.

As you start you will want to take into consideration that many owners and hosts use more than just AirBNb to host their properties.  

For this being your first project and it being around two years, you want to underwrite in a way that minimizes your risk and maximizes your cash flow.Key Considerations for Underwriting This Deal1.

So if you are looking to hold long term, you must take that into consideration.

My guess solely looking at your numbers is that it's an older/distressed property which means you have to account for more costs in capex. 2nd thought being it's not in the best of neighborhood then you'd have to take into consideration lower quality tenants/ neighbors and maybe increase expected vacancy and late payments.

If you can find that deal, pull that trigger.

Do it ASAP.Exit strategy considerations: Is it worth absorbing some of the costs and focusing on long-term appreciation?

They can offer valuable insights into the local market, potential rental yields, and specific considerations for a rehab project like the one you're planning.