Starting March 2025, Freddie Mac and Fannie Mae will enforce new lease standards for multifamily properties seeking financing, aiming to bolster tenant protections.

I added a decent amount into the house (new paint, new hot water heater, brand new kitchen, better layout) but I’m not sure if that’s enough for me to appraise for 20% equity. 

@Frank Rolfe's Mobile Home Park Bootcamp is the gold standard!

You are "off their standard checklist", and unfortunately most bankers have no idea what to do when that happens.The end result is that you get to educate your banker on what you need.  

The water bill can be transferred to the tenant's name.

I love the idea of renovating your carriage house - does it have any water and electric hookups already?

When turning basements into ADUs, and the breaker box, furnace, and water heater are down there, what are best practices for handling them?

Always apply the same standard to all applicants.

New roof, new water heater, new Electrical panel, New HVAC, new Concrete driveway, new Concrete steps & walkout basement, Open space of kitchen and living room, fully finished basement with wet bar and new full bathroom, new windows.

There are many buildings with systems reaching the end of their life - Galvanized hot water risers, leaking vent stacks, aging window systems, outdated elevator and fire safety equipment.