My name’s Stuart, I’m an agency multifamily lender with Berkadia that finances apartment buildings throughout the Western US with Freddie Mac and Fannie Mae.

I understand moving out of your home and occupying a unit in a duplex may be the best financial decision but make sure it’s the best decision for your family because transitioning from a single family house to an apartment with a family of 4 is not always the easiest transition.

There are many reasons why I haven't pursued the arbitrage model, but mainly that it takes too long for the ROI after investing all your time and effort into buying furniture and renting and paying utilities.Let's say you rent an apartment for $1500 and you spend $7000 to furnished it.

And another part of the town considers it to be residential, so it's exempt from most building codes and inspections that would normally apply to hotels. 

The place I have is over 30 years old and a mansion ("mansion" in Japan means an apartment, not "mansion" like a huge house). 

My primary residence is an apartment I rent in Brooklyn NY.

You will never know the right number until you have a chance to inspect and get contractor bids, which will typically happen after an offer is accepted. 

I do have several S8 rentals, while they are generally performing well, there is more paperwork involved in the leasing and the strict inspections can be quite a pain. 

It also has a 1700 square foot finished basement, and a brand new 3 car garage, with 1100 square foot luxury apartment above.  

How are you going to view properties, do the reno deal with the inspections ect?