I dont plan to add on to the house; simply build out a kitchen on one side.

Hey Kody,You have some great options... ultimately it depends on your end goal as an investor.

Using short term financing to do a short term project would just add on one more item to your expense column in terms of financing fees and interest payments.

if you were to take average of $8000 a month in our micro-community we are licensed for 6 Beds 2012:Actually this is 6 beds 2 at 263.01 day rate =$8000 x2 -heavy Care total dependant (2 person transfer etc)243.28 day rate= $ $7400 x2 moderate heavy Care (one person transfer )$223.56 day rate = $ 6800 x2 moderate care (hands on assistance)In addition spare room converted to temp. spouse / renter boarder $7200 @ $1200 mo x 6 moThese figures were 2012 so if room rates across facility raised $3.29 a day for inflation adjustment that's x6 =$7200 Businiss modle: Admission fee paid to Afh -allows for third party add on services such as assessment /delagations to be encompassed as well as additional pt hours for activities companion to help ease resident into home with out taking time from other residents.

Once we find it delivers an overall higher ROI for our clients, it'll be an add-on people can add in the Carrot platform, but until then we're just guiding people to add it onto their Carrot sites from the 3rd party vendors. 

Some people just want to add one rental to their portfolio. 

I had the same question and decided to add one to our Lake Michigan rental.

What variety of loan options does the lender offer, how experienced is the lender, how responsive, how fast is their close guarantee, what are their other add on fees... who can they refer you to to save on other pieces needed.

It is not obviously apparent this is an add on room.

Or is this private loan something I would add on top of the other loan?