@Jonathan Feliciano this is a commonly used strategy in a lot of places, and it can definitely produce good returns and enhance the usability of a house when done correctly. ...though, there are also plenty of examples of it turning into a poorly-planned hack job that ruins the usability of a house...A few things to consider:-Does the garage connect to any wet walls, and is the sewer main easily accessed?

Ok, so I'm not really breaking even.I got into this rental situation because we had an opportunity to purchase an immaculate foreclosure, and needed to cover the mortgage on our previous home.I am hoping to start purchasing some buy and hold properties, that I can rent to start building some cash flow, to invest back into real estate and grow my portfolio, to ensure a comfortable retirement, and to teach my 3 daughter's how to create cash extra cash flow, for their adult lives.I am currently a full time Cybersecurity engineer, and would really like to figure out how to make some of this happen by converting my employer held 401k into a Sole 401k, that I can invest in rental properties with.Other than this rental (and a very similar situation 10 years ago), I am new to real estate investing.

If you’ve owned the property long enough & have enhanced value and cash-flow look into cash-out refinance (tax free funds for more acquisitions & reserves).

I do plan to hold for long term.I am getting mix advice: some said keep things the way they are, sand, and paint the trim, fix sash lock, install insulation strips, while replacing a few exterior sills, and not worry about tenant wanting to open the windows..Then I am told, go ahead and do it as a good feature to attract tenants (new, save energy with ensured/enhanced insulation, utility will be paid by tenant), of course the windows can be opened like they suppose to, less maintenance headache with possible landlord call for window breakdown/issues.

If moving anywhere enables or enhances your ability to achieve your goals and objectives, you move.

If anybody wants a copy, shoot me an email at [email protected], if anybody that gets a copy wants to do any enhancements, let me know.I'd like to keep it going.

This is a great market to help you enhance your portfolio.I hope to hear from you soon!

An improvement is an addition to or addition of an enhancement that may or may not have already existed.

If you are not filling the void of each other's weaknesses and enhancing each other strengths the partnership will be stressed over time.Is your partner just the money guy and does not want to do any work and is very interested in getting involved with real estate but is really just wanting passive income from the benefits of REI, thats fine too but know that he is really a money partner, which is also important but that would mean a different type of partnership and different expectation of you. 

The interest yield on the transaction also can be enhanced.