Additionally if you're running an active business in the IRA the income will have to pay UBIT.   

Quote from @Chris Seveney: Quote from @Devin James: In 2021, we saw buyers upgrading to larger homes, taking advantage of 3% interest rates to afford an extra 300+ square feet.Today, smaller homes are selling much faster as higher rates make additional square footage less affordable.While rates are historically average, I don’t see them dropping significantly.

In addition you are sharing with cellular network, which gets priority.

A clean, neutral-looking curb gives prospective homebuyers a chance to visualize their own additions/upgrades.

Would be great to reconfigure the lot lines on the two additional parcels so they'd both meet the minimum to build.

Would love any additional info and the chance to check it out! 

Your LTC leverage is also very similar to a bank construction loan but between origination fees and interest charges you will incur  ~$20,000 more in finance charges during the life of this renovation project.

An example of that is tenant must pay for additional electric over flat fee / flat limit since now there is 2 occupants in the home instead of originally one.

Helps you stand apart from similar 4 bedroom homes and if you choose to pursue a rent by the room strategy in can create additional cash flow.

Additional DetailsI’m willing to invest in out-of-state properties, though I prefer areas with good property management options.My primary focus is passive income, but I’m also interested in value-add opportunities.I want to ensure these investments provide strong tax benefits and diversify my portfolio.I’d love to hear from experienced investors:What would you do in my position?