We’re in the business of perfect getaways, like this sensational bohemian city escape, remodeled head-to-toe with ever-inviting finishes.

Your new lender will want to know that and I assume that number will be the limiting factor on how much debt you’ll have access to to complete this project. 

But yeah, your right, I do not get any "Revenue Fairy" popping in at closing to to hand me my guarentee of rents to post going forward.

That means I could stay in the property for 1 more year a roll the dice on more appreciation if I wanted to.  To

We know enough to to know that it's a red flag if any owner adds value and doesn't capitalize on it.At these percentages we just have to be more patient and stick to our plan.

But my comment was responding to to the notion that rent is "dead money" or that a mortgage would be "less" than rent. 

I believe that the key to to success in the fix and hold space is purchasing below market value.

If they have been as disruptive as you make them out to be it seems less likely that they will be compliant with you choosing to to  not renew their lease.

But, speaking as a contractor, in general, the smaller the project, the more headaches, cost, and problems, leading to changes and increased costs to you.I've considered 2 different properties to to purchase and build an ADU and the numbers just don't pencil out, especially with the most expensive risk, time.

For the details, I used a Florida LLC, 2 properties (SFH, Kissimmee and Fort Lauderdale) in it, a Florida based CPA, one of the property has a mortgage, it was really hard to to obtain as non resident, and on very bad terms.