So it passes.3) What would financing look like for this deal, with good credit you could get 85%/100% let's say. 

Being licensed takes 60 days, passing exam and a sponsor.

from @Bob BeachPost: Seeking Advice on Property Management Issues for Out-of-State Real Estate Investment from @Luca GianiI found them all helpful and passed them along to our customers who in return provide us with a lot of great intel on PMs across the US. 

The rehabs also do not provide me the same sense of accomplishment/entertainment as they once did which is also why this may be my last project as GC    I plan on using a GC next time but have zero regrets having been the GC on numerous efforts.  

But what if I don’t want to pass anything on?

Some DSCR lenders will allow the proposed income to qualify, but needs to be able to pass an appraisal.

If people are getting free electricity and water, they tend to be a little less frugal :) .Then check on insurance costs for a MFH and add that to your projections.Finally, talk to your contractors and see what requires permits, what their experience has been in getting them to pass inspections, the timeline and the cost.Factor all of these into the decision to move forward or leave as is - maybe advertise it as a 4/1 with a home office with outside access and get more rent that way.One last point - I hope that the addition you mentioned was done with permits and is reflected on the tax rolls because if not, you may open a can of worms you wish you had not.

Your home has to pass an inspection - the inspection isn't difficult and you can reach out to The Housing Authority of the City of Charleston to see the specifics on it.2.

SWFL We Have A ProblemA year and a half ago I sent an update with a warning that there were several factors that were potentially going to impact in SWFL real estate including immigration laws that were passed.

I never regretted keeping my first house as a rental because it cash flowed very well from the beginning and as years passed and rent increased it became an outstanding decision .However, our home was significantly less expensive than yours.