That experience taught me the importance of leaning on local expertise, even if it feels like an unnecessary expense at first.One strategy I’ve seen work occasionally is offering the tenant a “cash for keys” deal, where you pay them a small amount to vacate voluntarily.

Hi Marc, I think everybody offered some great feedback. 

I think this may be a built in functionality of the Turno app, but I don't use Turno and my cleaners don't seem to offer that as part of their standard process.

Some insurance companies offer policies specifically designed for owner-occupied multifamily properties, so it’s worth asking about that option.The key is ensuring both your personal residence and the rental unit are adequately covered.

When you mentioned you did your homework on the turnkey property, if that were the case you would have had a really good idea what the property was worth before you offered on it (of course sparing the occasional rogue appraiser, which may be what happened to you... idk) and certainly before the appraisal.

The problem (as you have cited) is trying to understand what you need (you don't know what you don't know), where to get it, qualifying its source(s), and the validity and usefulness of all that.Pardon me if I've gone into this too much, but I meet many people with the same concerns that you are voicing and this is offered, as much as possible in direct response to your post.Please feel free to contact me if you have any comments or questions. 

No definition offered in this Section. 

I would suggest shopping it around a little more until you find a lender that offers reasonable terms and has a positive reputation.

Offer to intern, find a way to get involved.3rd - If you find a deal, you can then find financing! 

+I've researched something called an FHA Construction loan in terms of financing this project, but it seems that most large banks don't offer that product.