A recent article discusses how Bloomington is considering flexible zoning to support dorm-style units, aiming to provide housing solutions for residents earning 30% of the area median income (AMI). finance-commerce.comThe city has successfully added new rental units in the 50% and 60% AMI bands but faces challenges in creating units for the 30% AMI bracket due to financial constraints.

I have lived in Hawaii for many years but now that I’m a traveling healthcare provider, I am off island more often than not.When I’m not on contract I would love to have a place to return to and when I’m away I would love to rent it out for some additional income.

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Additionally, it provides investors with the opportunity to add a unit on a property they already own, simplifying management since the new unit is in the same location.Finding a vacant lot is both expensive and difficult, so the ability to build, subdivide, and create new development opportunities can make financing easier.

Hey Marcus welcome to the community, I work in the Kansas City area and could provide some value to your investing journey.

My strategy would then be to lease at least two of the renovated units, increasing occupancy to 90%, which could improve the chances of securing favorable terms for refinancing.I haven't pitched it to the seller yet.

I don't want to waste anyone's time providing quote after quote for me for the properties I am merely in the analysis stage with.

These associations often provide networking opportunities, legal guidance, and best practices to enhance your rental business.

Quote from @Dereck Olson: Hi Nicholas,  Just a thought from the possible tenant's perspective, but filling out a prequalification form and/or providing personal information before they have even seen a place and know if they will be interested in living in the property might be a bit too much to ask. 

Feel free to reach out if I can provide any insights.