Make sure the basement area has egress and it is up to code to be considered a livable space. 

The commercial loan space continues to grow and after my recent experience I fully understand why.

It will make that space nice and bright for the homeowner for years to come.Good Luck!

How did you decide on Space coast?

As a GC I can advise try to retain control of your finishing material orders (anything where you need to make a choice ((tile, flooring, lites, faucets, tubs)) vs. construction materials (2x4s, mortar, shingles)) because we get those discounts on the finishing items and we keep them!

I'm not a CPA, EA, or tax professional, but I appreciate the time and years it takes to practice in this space and I'm a firm believer in paying for good tax advice! 

Their house is 2400 sqft; 4 bedroom, 3 bath with space in basement that could be an apartment or be used as a nice Airbnb; it's in a development with an HOA.   

I'd be happy to connect further and share referrals to others in the space. 

I would provide the vanity, bathroom tub and shower, kitchen cabinet, flooring, and all the hard wares.

This determines instantly if a lender will touch it.Another factor: STR financing is getting harder to come by (at least in the DSCR space). 25% of the industry used to lend on STR's, now it's less than 10%.And it being a condo, expect anywhere from 15-25 bps added to the rate.