I've heard different answers when it comes to adding this 4th unit and the main 2 are below:1)  I should hire an attorney and need to re-zone the property to add the 4th unit.2)  I can do this on my own and we do not need to change the current RS-3 zoning (if it was RS-1 or RS-2 that would not be possible) and I should reach out to the alderman to find details to have property changed from a 3-unit to a 4-unit. 

They are looking in to adding me to the title of their home in San Jose, CA (both their names would stay).

That puts me at a negative cash flow and would require a much more aggressive approach to adding the value which I'm not sure I'm up for. 

Sometimes a broker will give you a rate with points, which equate to added fees, but you should let them know in the beginning whether you are willing to pay points to lower your rate or not.At the end of the day, what you're looking for is a Loan Estimate from each bank/broker you reach out to.

Looking forward to adding these to my toolbelt as I grow my skillset.

Purchase price: $199,900 Cash invested: $25,000 Sale price: $288,000 First completed deal from analyzing to purchasing the property to adding value to selling for a profit.

Purchase price: $199,900 Cash invested: $25,000 Sale price: $288,000First completed deal from analyzing to purchasing the property to adding value to selling for a profit.

Also, went over budget on the renovation by $7,000 due to added costs of the electrical work and underestimating the countertop expense.

Also, went over budget on the renovation by $7,000 due to added costs of the electrical work and underestimating the countertop expense.

On this second part, I have done a variety of terms from just offering payments with no interest to adding market interest BUT paying it only once per year on the outstanding balance.