Start by reviewing the assessment report for errors, such as incorrect square footage or outdated property features.

I remember visiting a buddy’s place in Austin years back..he had a similar setup over his detached garage and was convinced that adding a window unit and some carpet would let him count that space towards the home’s total square footage.

. - exterior "usable square footage" (think covered patio, pergolas).- extra storage space so tenants don't feel the need to squeeze their entire lives into one room (extra garage space, attic, detached shed)- room for 2 full refrigerators!

While metrics like square footage or price per square foot matter, the number of bedrooms, bathrooms, and overall location are often more critical for attracting tenants.Engaging a property manager early on can save you from costly mistakes and help you invest in properties that perform well in the rental market.

And won’t parties involved see red flags waived by all this “out of space” subterfuge?  

Make sure to analyze cash flow, including conservative estimates for vacancy and maintenance.Indianapolis Market: Indy has solid multifamily options in neighborhoods like Irvington, Fountain Square, and near downtown.

Let me guess, RH, REDS , ALL S Monument ? 

On the other hand if they are a sponsor that is experienced in stopping a skin in the game, that's a huge red flag for me.c) how open to scrutiny are they?

.- Maximum build size: typically 800 square feet or 50% of the size of the primary residence, whichever is smaller.

Quote from @Jay Redding: @Wade Wisner -  Most of the notes that we purchase we keep in our portfolio and borrow against them with private capital.