However, these properties generally have a lot of land improvements that qualify as well as certain portions of electrical, mechanical and plumbing that can qualify.

It’s worth reaching out to your lender to discuss the specifics and get a quote based on your improved property value.

The mountain house has taken almost 2 years of breaking even and using some of the income on improvements until we have been able to cash flow.

This includes contacting the applicant’s employer and speaking with their supervisor to confirm job stability, income, and reliability​. if the person has not been employed at their place of employment they would require a guarantorCredit Score and Debts: Applicants need a minimum credit score of 620, and while we review debts, medical debts are generally not disqualifying unless they impact overall financial health.Criminal History: We do review criminal history to ensure safety and security for our tenants, while remaining mindful of state and federal guidelines.Rental History: Positive references from past landlords, with no evictions or significant lease violations in the past five years, are essential. and we can see into the court system if they have an eviction judgement.Release of Information: We include a release form allowing us to verify employment and rental history directly, which helps us get a clearer picture of an applicant’s background.This process has worked well so far, but I’m always open to improving.

I am in my working years, not relying on rental income, and am focusing mostly on improving my overall net worth (not as focused on living off the cash flow).

The construction seems slow and could last up to a year.Here are my questions:1.How can I cover or conceal the metal screens to improve the appearance?

And you need to keep detailed records of all repairs and improvements.

It wasn’t how I wanted to kick things off, but I worked with a contractor to get the bathroom fixed and functional.Once that was behind me, I focused on improving the building and maximizing income:I installed a shared washer and dryer for the tenants, a major upgrade that added convenience and increased the property’s value.I rented out the two garage parking spaces, bringing in consistent revenue.I also raised rents for the second- and third-floor tenants I inherited to be just below market-rate.

Interest rates atm seem quite high so will ride this out a bit longer (and ratios will continue to improve over time.) 

You could do the upgrades then rent out the units or sell after you made the improvements.