@John BowensAre you loaning from a pre-tax 401K or did you convert to Roth and then loaning from there?

A novice question ... will the value of the property decrease if Homeroom do the modifications to accommodate more bedrooms and convert living area to bedroom? 

This client was transferred to me by another PM in our company because her portfolio is maxed out and she doesn't have capacity to take on more properties.This client had been self-managing a short-term SFR for the past several years and recently converted it to LTR.

Interested in getting some extra income with converting the extra space in the basement into a rentable unit.Basements in a one-family home can be lawfully rented only if the following conditions are met:Compliance with the Housing Maintenance Code for minimum room size.There is a minimum ceiling height of 7 ft.The walls, as high as ground level, must be damp- and water-proofed if HPD determines that subsoil conditions on the lot require it.The basement is occupied by one family and does not include boarders.Every room must have at least one window.The bottom of any yard or other required open space cannot be higher than six inches below the window sill of any required window in the room.

My challenge is that I don't know when exactly I will be able to obtain the STR permit from the city, so I don't want to convert guests too prematurely. 

Adding Square FootageIncreasing the usable living space of a home, such as by finishing a basement, converting an attic, or adding extensions, can dramatically raise the ARV.

If it is a legal 4-family, you should have it converted to a 5-family.

Going forward, make sure you convert your lease agreements to PDF and have them backed up.

.- The commitment letter says if I convert the leads given by the TL I would get a 50-50 split and if it was my lead through my COI/SOI while I was on the team, then it is a 80-20 split. - I had a few COI/SOI leads while being on this team who have not signed any papers with me or any one on the team as of yet and won't for the next 2-3 months.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $325,000

Cash invested: $150,000

What made you interested in investing in this type of deal?
This was ou...