These can sometimes have more flexible terms than standard construction loans, especially if you can demonstrate strong income through your bank statements.

Can anyone on there provide any figures for converting a standard fireplace to gas?

@Adam OrtizRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

We can use the original part of the house for rental as well, which is valuable to help use understand the STR rental market better, ie what income we actually get as all we have current is the airbnb site itself and airdna (an airbnb analytics site).In short I think the downside is limited, and this deal with give valuable experience while testing my beliefs that it will make me some money!

If the rental income doesn’t sufficiently cover the debt payments by their standards, they’ll limit the loan amount, even if the property is worth more.You could try a few alternatives:•Look for lenders who specialize in commercial real estate and have more flexible DSCR requirements.

**NAHB Contracts**: The National Association of Home Builders (NAHB) offers a variety of detailed and standardized legal templates specifically designed for the residential construction industry2.

Our belief is that real, sustainable affordability in housing can only be achieved by taking a long-term approach—think 100 to 200 years.

For your $2M property, a cost segregation study estimates $316K in first-year depreciation (compared to $28K with standard straight-line), potentially saving ~$117K in taxes at a 37% rate.

i couldn't do a BRRRR last year because I got outbid on everything i went after.the points i was making are that (1) success right now is therefore taking more effort and (2) standard LTRs in good neighborhoods are still a great long-term strategy, but they don't cash flow. 

A window A/C might keep it comfortable, but it often doesn’t meet the standard for counting it as fully finished square footage.