So this involves hiring an architect draw up plans ($1,000 - 3,000 if I had to guess).  

Pacing yourself is key, especially as you get hands-on experience managing maintenance and tenant dynamics.Since you have a strong W-2 income, you're in a great position to leverage creative financing options as you grow.

This restrictive definition can pose challenges for co-living arrangements, which may involve unrelated individuals sharing a dwelling.

I have a few other options - feel free to shoot me a DM if you want more specific contact info, etc. 

@Dustin Sanders We have a couple of options that can still do a 15% on DSCR, but as Stephenie eluded to above, everything else has to sort of line up in a perfect scenario to make it work.

No, refinancing isn’t an option because of how we purchased the property.

Kitchen:Demo & Prep ($2,000):DIY cabinet removal, backsplash removal, and some demolition.Professional for disconnecting gas lines and major plumbing.Dumpster rental.Cabinets ($6,500):Option 1: Refacing existing cabinets.

Option 2: Sell them and split the proceeds.Considerations: - Immediate liquidity: I would have cash on hand for new rental or stock investments. - Eliminate mortgage obligation: Selling would relieve me of the mortgage. - Able to keep the retirement fund that was going to be used to buy out the equity

Talking with my partner, we started to talk think through worst case scenarios & options we’d have if it doesn’t get rented in several months. 

Are you looking to submit just a small list, find a skip tracing service that does not have high spend minimums but rather flexible spending option for low or high volume.