My take on converting to STR or MTR is that if you can't find one or several comps that make the decision a no brainer, don't do it. 

Is it a no brainer?

Paying 2.85% to earn 8% is a no-brainer. 

We have a no parties rule and Quiet Hours because we are in a serene historical farm community just 15 minutes from the heart of the city.

  - I Co-Sign with the developer on an interest-only construction loan (ideally a "no payments" loan).- The developer acts as owner-builder-GC and is responsible for securing financing, managing all subs as well as overall Proj.

Should be a no-brainer!

@Cody Evans@Sean OToole  Cody this is off topic so OP don't yell at me.. but any one working distressed real estate on the west coast the very first thing they need is Property radar app .. hands down the best tool out there.. we snagged an off market deal last year that has over 300k in equity.Of course we pay cash that helps.. but this tool is super cool the info at your finger tips and it so cheap as to be a no brainer..

But if you don’t need the cash then just do a no cash out refi.

You'd have to look for a no inspection offer on the property.

I'm a first time buyer, and I'm getting it as an O/O