Lineman work and maintain all the things that provide electricity to the end consumer. 

@Sheena Varghese You can always appeal the zoning but this is costly and time consuming and no guarantee they will approve your request.

My wife and I had been discussing selling this particular property anyway, and reinvesting in something closer to home, so if the numbers work I'm interested - especially if we can pull out some modest appreciation and avoid realtor fees at the same time.

The numbers are acceptable and modest but the education has been significant and after failing to come to a deal with two other properties we were happy to get our hands dirty.

. :-)OPTION 1Current home value - 425000Extra payments - 4000Total interest spend over the loan - 85000Resulting equity - 340000 (425000-85000)Time to pay off the remaining loan in months by paying 4k extra per month - 28 monthsNext loan amount - 540000 (600000 - 60000 10% down)Extra payments - 8000Estimated home value after 10 years - 625000 (modest evaluation)Total interest spend over the loan - 60000Resulting equity - 565000 (625000-60000)Time to pay off the remaining loan in months by paying 8k extra per month - 56 monthsNext loan amount - 540000 (600000 - 60000 10% down)Extra payments - 10000Estimated home value after 10 years - 625000 (modest evaluation)Total interest spend over the loan - 50000Resulting equity - 575000 (625000-50000)Time to pay off the remaining loan in months by paying 10k extra per month - 47 monthsOver 10ish year I will have a total equity of 1.48M which is an average monthly increase in personal net worth of about 12,000 over this timelineOPTION 2Current home value - 425000Extra payments - 1000 (it would drop from 4k because 2k would go to the other loans principle and I would lose 1k as an expense for the extra loan)Total interest spend over the loan - 95000Resulting equity - 330000 (425000-95000)Time to pay off the remaining loan in months by paying 1k extra per month - 64 monthsNext loan amount - 405000 (450000 - 45000 10% down)Extra payments - 2000Estimated home value after 10 years - 500000 (modest evaluation)Total interest spend over the loan - 100000Resulting equity - 400000 (500000-100000)Time to pay off the remaining loan in months by paying 2k extra per month - 131 monthsNext loan amount - 405000 (450000 - 45000 10% down)Extra payments - 0 (money is being used for other loans)Estimated home value after 10 years - 500000 (modest evaluation)Total interest spend over the loan - 330000Resulting equity - 170000 (500000-330000)Time to pay off the remaining loan in months  - 360 monthsOver 10ish year I will have a total equity of 1.29M which is an average monthly increase in personal net worth of about 9,800 over this timelineI know this is very detailed and you would probably have to spend a few hours figuring this out, but If you could help me by providing some benifits to option 2 that would be helpful.Thank you

A sale will consume 8% or more of your equity in transaction costs. 

I don't think your strategies work in the NYC and surrounding boroughs market, the price points are way out of control and if you are a newbie the sharks are already consuming all the market.

I'll echo what others have already said: I charge a minimum commission on cheap properties, and that can vary according to how time consuming I anticipate the deal (and sometimes the client) will be.As a broker, even I will agree that a great many agents are grossly overpaid, and marginally competent at best.

Prior to that I have had careers in consumer finance and investment management. 

And he is setting up multiple future generations of needy people for help, which is even more selfless than "helping" familyMy parents will most likely die with some kind of modest estate and I could care less if I inherit a single dime.