Our plan is to use the place some ourselves, so it needs to accommodate a family, hence the desire to look for four bedrooms. 

The areas would probably be a little less then desirable but can still work.

But real education takes real time, study, effort, and desire.  

Based on the desired monthly payment, we use a financial calculator to determine the necessary terms to achieve that payment, considering the price the seller is asking.If interest rates are not specified, our initial offer includes our desired monthly payment along with their asking price, with a balloon payment due in year 20.

The ironic thing is that in some resort/highly desirable locations where the cost of housing is high, when STRs are banned, the houses in question typically get bought by people as a second/third/fourth vacation home and then let it sit vacant. 

Of the 5, there were 3 that made hit the mark, this was the most desirable and I was aggressive.

I quickly observed the tenant had a dog, a roommate, and an Olympic weight set - none of which was allowed per the lease.

If the garage is not built to support the weight of additional floors or is not adequately reinforced, it may not be suitable for conversion.Insulation: Another important consideration is insulation.

then you really don't have a problem...except that you are forced to switch horses in mid-stream which I know is not desirable....A new GC will not always charge so much more to take over a job mid-stream, it just depends on a lot of things (like the original GCs reputation).I would get a release (of sorts) stating that the original GC will warranty the work that he has completed and that the new GC is not liable for any work not performed by his company.

You can always buy more later".Over the years I have witnessed many investors getting caught.Some expected over night success by owning 1 property.Others over leveraged and didn't get the desired returns.And the unfortunate ones had unforeseen circumstances occur and had to sell.I am here to warn all of you that unless you are buying to hold long term (As in 5 years or more).You will probably LOOSE MONEY.Yes, you will LOOSE MONEY.It's as simple as that.Also, as much we would love to but the answer is "No".We won't be coming to your rescue anymore like we have done so over the years.Our message to all has always been clear but for whatever reason many have failed to hear it.Before you invest, make sure that you're finances are in great order as I have mentioned above.Make sure that you have conducted mind boggling due diligence on turnkey investing, the market, provider, their properties and the after service they offer.Only invest when you are 100% comfortable and confident in taking the next step.For all that invest with Ohio Cashflow and decide to sell 1-2 years later.Sure, we can help you.But at a cost.We will consider buying the property back from you for dirt cheap just like we would with any other distressed asset.Or we will help you with selling the property for a hefty fee.Why are we so harsh?