The destination of the direction I was going was not a bad one, however, some of my life goals (home ownership (X many), a yard for my unborn kids, laundry in my own unit, passive income to go to my unborn kid's field trips on a whim...) were just too far out of striking range within my preferred timeline.

Our plan is to eventually create a large master suite, another guest bath and laundry in the current garage.

Some of my immigrant tenants keep 5 gallon buckets in the bathroom I think they wash their feet in it or maybe their hind ends .

Thanks, Victor.I only needed a strip where the wall was that was about 40"x7', then the laundry area in front of the bathroom at about 5×6. 55 or so sqft. 3 boxes of Bruce Hardwood at Lowe's (new line so special order 3 days out)  for $94 each.

Put that 20% ($200k) down on a $1m property, increase the value, refi, get your $ back, buy the next one, rinse/wash/repeat.People act like there is only appreciation on the coast. 

They also were meant to dry their clothes on hot in the dryer, and I didn’t see any laundry being carted to the laundromat, either.They were headed down the eviction road, I believe, but their decision not to stay due to rent increase probably made it much easier on me in the long run.

I want to approach him with 2-3 different offers so he sees I am trying to work with him. 7 Unit Building 2 Bed Room (owners unit) worth $4,000.00 a month2 Bed Room ($3,950.00 current rent) worth $4,200.00 a monthStudio ($1,850.00 current rent) worth $2,400 a monthStudio ($2,000.00 current rent) worth $2,300 a monthStudio($1,600.00 current rent) worth $1,800 a month 1 Bed Room ($3,000 current rent) worth $3,300 a month1 Bed Penthouse ($4,300 current rent) worth $4,700 a monthPotential for garage rental, Storage, and Laundry as wellCurrent Income $16,700    Potential Income $22,700  I know that the gentlemen likes to spend the weekends in his apartment and I want to give him an option for him to stay for a few years to make the deal interesting. 

Great work at a fair price, and if you are newer (as I was), he gives you good guidance on what makes sense. 

One final thought; you mentioned the laundry is costing you 1400 per month.

Also Trump’s policies specifically targeted certain foriegn produced appliances like washing machines which are up 20% in price since January.