Once it is written down we then can start to make much more progress in figuring out what is best for them. 

Wish you the best.If I was you, first step is evaluating costs associated with doing MTR and comparing with potential rental income to see if it makes sense to do LTR or MTR.

Further, assuming a 5 cap market, that would be a loss in evaluation of $1,000,000 ($5,000 x 10 non-renewing units for the year / .05 (cap rate)).

As a family-run business we’re curious—what factors do lenders prioritize most when evaluating projects like ours?

Property Evaluation: Will you require an appraisal?

I imagine it’s a relatively short drive from Southwestern Ontario, and it offers some unique opportunities that align well with what you’re looking for.Detroit has seen tremendous progress over the last decade, with significant investment and revitalization in many areas.

It’s gotten me seriously considering bringing an attorney in-house to handle evictions and other legal needs moving forward.I’m evaluating this from two angles:Cost Efficiency: With the expense as high as it is, having in-house counsel could potentially reduce costs over time.

., desks and Wi-Fi for professionals, cribs and baby gates for families).Evaluate Your Own SpaceYour property’s layout, amenities, and location may naturally cater to a specific audience.A cozy 1-bedroom apartment downtown might be ideal for professionals or couples.A 3-bedroom house with a yard might appeal more to families.Proximity to nightlife might cater to party groups.Experiment and AdjustIf you're unsure, start broad and monitor who books your property.

You can give me their numbers and I will call them and keep you updated on our progress.

It's a progression but the key is to take the smallest of incremental action each day and it will sum up to something incredible in years.