It's just a matter of knowing where to go....oh and this is possible with 0% origination fees and without increasing the rate...not a bait and switch, i have a different compensation model. 

The reason I say this is that with a 5+ unit a lender will evaluate based on NOI and a cap rate, so adding a 5th unit COULD (or could not) substantially increase the value of the building and make it worthwhile to refinance and pay off the existing loan (that is tied to the "old" quad) anyway.

Staying ahead of the game by understanding how local regulations align with state bills like SB-9, SB-684, and SB-423 can open doors to exciting development projects.SB-9: Simplifying Lot Splits and Duplex BuildsSB-9 streamlines the process for lot splits and duplex construction, offering a straightforward way to increase property value and expand housing options.SB-684: More Flexibility for Smaller ProjectsFor urban lots under 5 acres, SB-684 makes it easier to pursue smaller housing developments, transforming overlooked properties and vacant lots into productive investments.SB-423: Faster Approvals, Fewer HeadachesNo one likes endless waiting.

Also, I am assuming since you house hacked that you only did 5% down, which then increases your mortgage payments compared to 25% down buyers.

Also, gifting real property generally would require an appraisal as well, which could increase costs, too.  

We plan to keep them on a month to month lease but after a few months, have them sign a year lease and increase rent, however, we need help finding a GOOD app/website to get lease agreements/documents from or get a template so we can fill/add certain things we want.

.- Builds long-term wealth - Generates rental income - Increases equityCons.- Complex process - Requires financing - Dependent on market conditionsAirbnb:Pros.- Potential for higher returns - Flexible pricing - Short-term commitmentCons.- Requires active management - Subject to regulatory risks - Income can vary seasonallyI wish you the best in your new venture.

We have an existing mortgage (backed by these 2 lots and 2 others) and given the increase in appraised value there is no need to pay anything back to the lender when selling the lot.

The previous landlord only collected half month rent as deposit, and I would like to increase the deposit to standard one-month.

However, once converted to personal use, you can no longer claim depreciation, and the accumulated depreciation will reduce your adjusted basis, increasing your potential taxable gain upon sale.