easy to build, rent, refinance repeat. might not be your market. look at the underwriting model. we underwrite every deal not only with fresh comparable but market economics change. land costs go up or down, construction costs go up or down, design modifications improve the property, comp sets can get more favorable or less favorable.

I love this strategy but it is more management-intensive for sure!

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

I could take look at it for you, and help you understand it if it's a standard lease, no need to pay me, although I am not a lawyer.  

Yes, had to go in more detail with my answer. $5400 comes with too much risk and wear and tear on the property. 

So more of a hands-on business than a straightforward lease.We haven't put any money down or invested, thus take the above with a grain of salt.

We recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

Your name and credit would stay with the existing note, which you would keep paying on - ideally yourself with money you receive from the "buyer", because if they don't pay your credit is wrecked and your house is in foreclosure.If you search on here you'll see everyone and their brother looking to do Subto and it's a nightmare unless the buyer has the funds to pay the note off if/when the original lender figures out you don't occupy the property any more and are attempting to do what you want to do, since most loans are going to specify that performance.  

By adding an extra bedroom, and opening up the 2nd unit by restructuring some of the walls, switching around some of the rooms in the first unit to make it more inviting and give it a larger kitchen.

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.