The listing says there's an unpermitted 2 bed 1 bath garage conversion, so I'd be extra careful about making certain it's vacant before closing.

Write down a recollection of conversations.

The uptick in multi-family construction, with 52 new units being permitted in 2024, underscores a growing preference for apartment living, further supporting upscale conversions or new developments.13210: The sales data shows a 28.5% increase in the price of 5+ bedroom homes, and other categories also saw price increases, such as a 15% increase in 2-bedroom homes, indicating healthy market conditions for larger family-oriented properties.

However, you are allowed to have a conversation.

Skills, tools, subs, muscle you have to complete fast on paper.Architectural plans with elevations.Plat map, drawing where house goes, title report, gas lines, cost breakdowns, temporary power...Reports of existing utilities.Notes on conversation with planning desk on time frame.Combining the two loan types can be done, you need to be a great secretarial story teller on paper.

If you would like to continue the conversation, DM me and i can share with you my experience.Gino

Anyone remember the podcast from a couple of years ago where the guest talked about how he goes about raising rents when he inherits tenants who are paying well below market valueHe talked about making up a folder of his expenses as well rental comps and meeting with the tenants and having a two-way conversation about where to set the rent. 

Again, the issues here would be if those properties were structured incorrectly or filed incorrectly....but I think it would certainly be worth having a conversation with a different lender about it.

Conversely, if a deal falls short of this threshold, it's prudent to pass on it and wait for opportunities that better align with your investment criteria.

Here's some food for thought to get the conversation going:Finding the Ideal Property: What are your tips for spotting a great house hacking opportunity?