With the exception of building a trailer on the property (these are hard to finance), this sounds like a good plan AND if you are using it for your business AND your business pays more than 50% of the rent (if you have more than 1 tenant), then this is a more financeable property in the eyes of banks and credit unions as it would be consider a commercial "owner-occupied" property. 

The Snohomish county program details can be found at http://snohomishcountywa.gov/DocumentCenter/Home/V...

I detail here how my first flip essentially bankrupted me which resulted in this house losing money as well.It’s easy to blame others for all that went wrong.

Thanks in advanceDown payment: ~90k (25% downpayment)Rent per month: 2300 (5Bed, 4 Bath) with 2100sqftProperty management: ~150 (monthly)Outstanding loan around : ~268k (7.675% APR) 30years fixedLandlord Insurance: 1500$ (per year)HOA: 1600$ (per year)Keeping an eye on interest rates for refinance, so I can then move this property to an LLC instead.

Is this a 2 bedroom apartment that is currently being leased (in the eyes of the CHA) as a 1 bedroom apartment?

If you’re a homeowner thinking about selling, keep an eye on mortgage rates.

Quote from @Anderson Banegas Cerrato: Scott, appreciate the detailed response!

@Jack Cottrell you post caught my eye.

It would be like if someone prepared to sell by painting to create fresh visual interest, but chose fuscia and lime green...those colors would certainly catch the eye but I'd never claim that they overdid the curb appeal by painting with too much visual interest.

My rates are higher than what both VRBO and AirBNB and Airdna has ever suggested but I keep my eye on competitors and am happy pricing higher and turning away some of the guests that might book for lower.