I’d be very grateful for any advice or recommendations on how best to approach these modifications.Also if I were to refinance in the future to pull out cash from the property, is this something that banks could refuse to lend on if I have code violations of lets say a wall that was moved or removed?

Every property of interest must be evaluated based on current and future performance.Current ConsiderationsTime to rentRenovation Cost & RiskInitial ROI and cash flowPurchase PriceMaintenance costAcceptable area rental restrictionsIn an area that is doing well and likely to do better in the future.In the migration path of urban sprawl.Future ConsiderationsThe location has a track record of appreciation and rent increases.It physically matches the expected demographic changes for the foreseeable future.Buy what your “customer” wants to rent, not what you think is a good property.

Louis]Single-family home building permits serve as a leading indicator of future housing supply trends.

I am not planning to sell the property and intend to acquire additional rental properties in the future.

I'm glad it's working out for you now, and I hope it continues into the future.

But, if this is a future rental, you might not refinance this!

Most cities won't care if the owner lives in the basement, they only care if it's tenants.The egress window is also a good idea for increasing future sales price.

If your lease doesn't explicitly address pest control responsibilities, it’s worth reviewing and considering adding a pest clause in the future to prevent disputes by adding every single pest.

In these arrangements, homeowners can receive a lump sum payment in exchange for a share of their home’s future appreciation.

Was it hard to predict future issues?