Plumbing from previous kitchen behind wall (currently no kitchen or cabinets), 1/2 of basement is utilities, laundry, storage & back exit (could extend hallway & turn storage area into 2nd bedroom while enclosing laundry and utilities).- Garage/Backyard: Yard is standard Chicago size with above ground pool that takes up most space (girlfriend wants to keep, I want to get rid of haha).

This month I had two washing machines break, one is old and being replaced, the other being fixed, and a chimney that needs repairs. 

@Jaysen Medhurst, I was able to qualify for a HELOC, If you don't mind looking at the terms.Assuming an appraised value of $225,0001stmortgage set up at $180,000 80% loan to Value (LTV)HELOC (Home Equity line of credit) set up at $33,750 15% (LTV)Combined loan amount $213,750 (95% of the appraised value)Interest rate 1st mortgage 3.875% 30 year fixed rate conv loanHELOC interest only ARM: WSP + 1% (3.25% Current WSP index + 1% = 4.25%) Principle and interest payment would be $846.43Full monthly obligation including Home Owners insurance ($100 per month) and Taxes ($100 per month) : $1,046.43The interest only payment on the HELOC assuming the full draw of $33,750 at 4.25% would be $122 (shown above) Total monthly obligation between both mortgages : $1,168.43~$25,000-26,000 would be the cash available from the HELOC at closing What this refinance accomplishes: ~$25,000+ out in cash for the real estate investment opportunities Escrow refund – should be a wash with what we are estimating we would be setting aside to start your escrow (~$1,200) and that is your money to do with as you please Creates a HELOC that you can tap into on an as need basis (during the draw period which is the first 5 years).

After awhile I felt like I was being brained washed by these promoters of classes on"GETTING RICH IN REAL ESTATE"!

As of the 2017 NEC Update, GFCIs are required in all of the following areas:Underwater pool lighting (since 1968)Outdoors (since 1973)Bathrooms (since 1975)Garages (since 1978)Kitchens (since 1987)Crawl spaces and unfinished basements (since 1990)Wet bar sinks (since 1993)Laundry and utility sinks (since 2005)Crawlspaces at or below grade level (2017)Unfinished areas of the basement (2017)

It's a wash, really.

So we lived in one side with 1 bedroom, 1 bathroom, kitchen, family room, laundry, garage.

I want to know if I am I limited to using existing openings (doors, windows) to connect new spaces, such as a laundry room.

Last year I filed one tax return as a sole proprietor which included my W2 income (from my "non-realestate" day job), and the proceeds from my first 2 rentals with only write-offs from the 3rd because it was purchased that year as a fixer upper. the depreciation and repairs with carryover losses from previous years ended up basically as a wash (no net profit).

Needed to get appliances for it, add another laundry hookup, and put up blinds so I made it available for May 1 so I could take my time finding the right tenants.