I totally agree with Kyle on every point he makes.

You give up some upside when sitting out a bit, but you save yourself for another battle down the line. seems like you can make things work by investing in local markets, so don't chase the paper dreams of long distance markets just yet. 

proceeds from a line of credit/refinance?

If the dark contrasting grout bugs you you could use polyblend grout renew; the 'urban putty' color would probably make the grout lines 'disappear'  I agree with Jill’s @Jill F. comment on that it could be the grout lines and not the tile that makes the floor seem as dated.  

Some context, I have 3 other properties in a different city and am currently on 1099 income (so I can't do conventional) for the past 3 months.

Quote from @Felicia Nitu: Quote from @Jay Hinrichs: hope it works.. but throwing in the affordable housing requirement a lot of times kills the project right there.Also at least in markets I have worked the time lines START from completed submission.. you make your submission and then get an incomplete letter this goes on for months and months soo time lines still extend.. but at least its a step in the right direction hope if works.Hi Jay, the affordable housing requirement can definitely be a dealbreaker for some projects.

What I'm hoping for is an Excel or spreadsheet template that allows me to play around with these variables and, most importantly, calculates the IRR and TIR for each scenario.Does anyone have a board or Excel sheet they use for this kind of investment simulation?

My 7-year old was fascinated by it and wanted to play. 

Quote from @Khyree Randall: I was talking to my brother on the phone and would like to get others educated opinions on the matter.

Rick here’s how you play this.