This worked for me, I had the same situation with a HELOC but did a failed refinance a few months back and had a solid appraisal in hand.

The issue with RUBS is that it is fluid and it hinges on the # of occupants and this poses issues: 1) A child uses less than an adult; 2) a worker from home uses more than one that drives to work; 3) A couple may have a child during tenancy which they fail to divulge; 4) friends and family may visit for a few days during holidays.... etc. etc. etc.  --- and... these issues become issues for the other Tenant and then turns you into the constant 'utility police' because you constantly have to monitor # of occupants... eww. 50/50 is simple and simply understood and 100% while vacant is also simply understood.

Unfortunately, you must refinance the property completely with a new mortgage in order to pull equity out (or pursue a line of credit with a local bank). 

I use Schlage locks for under $150 each because they are easy to install, easy to use, and never fail.

Most fail to factor this in.I believe the fact no meaningful tax advantages exist saved you from going down a rabbit hole that would have been adverse to your business more generally.

If it fails to load within that 1-3 second window You don’t need a master’s degree or a Google certification to understand that this page is bleeding money for its owner.We’ve discussed how 1-3 seconds is the ideal load time, but what happens when it exceeds 3 seconds?

A closing attorney almost just fell victim to Justin and was able to reach the bank in time recalling the wire before losing his money, which then led the bank to contacting me and now maybe the arrest.More charges are being filed against him since his bank has stepped in, law enforcement and maybe now the FBI are on it. 

The other reason why you would choose option 2 is that no investor would ever buy #1 and the bank might have trouble financing a deal where the revenue can be iffy.  

Instead of just buying into a training/coaching program for $8000, (That is what cost as of yesterday) they have a bank and financing available to the group that seems to be unique. 

Just called one of the banks and they require a business plan for a multifamily, is that typical for a lender?