This way, your current rental stays a cash-flowing asset while providing leverage to grow your portfolio.

Additionally, it provides investors with the opportunity to add a unit on a property they already own, simplifying management since the new unit is in the same location.Finding a vacant lot is both expensive and difficult, so the ability to build, subdivide, and create new development opportunities can make financing easier.

If it's currently an STR they should be able to provide you with the p/l statement from prior years so you can see gross rents, operating expenses, average daily rates and occupancy levels.

If anyone has done this type of project before and has a detailed/itemized breakdown of project cost (invoice), I would truly appreciate if you can provide me with a copy and any guidance.thanks!

Provide the supplies.

Hi does anyone have experience with providing direct STR stays (so not through Airbnb or VRBO) and charging, collecting, and remitting the local Chicago hotel tax?

Can either agent provide comps?

Hello everyone, could you please provide updates on your experience with Delta Build Services and/or other builders?

The struggle comes when you plan to sell, pay close attention to how the bank would treat the loan in the event you would sell.Even though its a bit more work, banks are typically open to these loans as it provides them with additional collateral in the event of default.  

So, your focus may need to pivot from high rental cash flow to little to no cash flow as a rental with an appreciation upside.I would recommend taking your $150K to $200K and securing a solid equity position in something that will cover its expenses and maybe provide a small cash flow, but then is poised to appreciate nicely over the course of the next several years.