He was initially terrified of buying a place with a pool.. thought it would scare off insurers and sink his returns.

There are also some exceptions to convince the underwriters to use leases if there were major repairs for that house/unit proving that the schedule E numbers are not showing the full potential return, then you would be able to use the leases as an exception. 

The investment will be 12.5% cash on cash and an overall return on the money invested will be 48% over 2 years.

We are late in the game but hopefully we can catch-up leveraging the plethora of knowledge that exists on this platform. 

However the property has a freeway behind it and hence no rear neighbors /more privacy.You’re going to see low or negative returns with minimum down payments in that area unless you’re going BIG as in much larger homes and much heftier budgets for design/amenities.There’s great cashflow on the Clearwater/Largo/Seminole/StPete side - you’re looking at 2 high cashflow buckets that I call Tier 1 and Tier 2. 

48,000/300,000 = 16% ROI60,000/380,000 - 15.7% ROIAppreciation:Renovated single family = 33% appreciation potentialConvert to Quad = 31.58%So in both calculations your percentage return from gross revenue AND appreciation is higher renovating the single family.

Most agents, I can tell you from experience, will not spend too much time on you since your so fairly new and at your purchase price your not a big fish so they will tend to put you on the back burner since heir return is not going to be a game changer.

Then in the late 2010's a lot of owners got wise and started to do the bare minimum to pass section 8 standards and still request the top end of the section 8 rents.

Quote from @Ken Latchers: I would start with the code & zoning department for your community Thanks Ken; sorry for the late reply.

Closed on 2/21, a day late due to an additional HUD asset manager/HOA dispute.