I've set up similar smelling opportunities for tenants in the past, but it is always a separate agreement, never a rent reduction or anything that alters the signed lease.

Basically, we pay interest every month or the lender gets the house and the rents.So let’s do the math, a $50,000 loan at 8% interest would translate into a monthly payment to the lender of $333.33 per month.

We need help with basic stuff like reviewing and translating various contracts/documents before signing, helping us draft needed contracts, provide some boiler-plate stuff, etc.

We recently put a property that was down to the studs into escrow at fair market value months before ever being completed. this benefited the seller greatly because the property was locked into escrow before the project being completed, and is minimizing days on the market which translates to lower holding costs. combined with a great offer it was win win for the seller due to profit maximizing, buyer because they were able to customize a home and negotiate a price they were comfortable with, and probably lastly the agent because it took much more work then a normal listing due to milestones and repairs being made as the deal went on.just some notes on the subject which i know can be debated all day long.cheers!

Not sure that will translate to higher reimbursement rates which will mean increased income.  

EX: Zoning, Code Compliance, Layout, Egress, ADA requirements, Etc.I am working on a couple of these type projects currently and a project specific review/feasibility report will be necessary for you to determine both if you can convert and the level of alteration required in order to do so.

The new manager can review the details of your situation and help translate what's happening with your funds and what your management agreement allows for termination.You have a valuable asset, it's very important that you always feel your best interests are the priority of an agent you choose.

(Obviously it'll be a little more complicated than that, which of course translates to more legal fees...)

He doesn't speak English very well so his adult daughter will be our translator.2- Send him a letter of termination of the current month-to-month lease with 60 day notice and offer of a new month-to-month lease at the new rate & terms, to be effective in 60 days (to coincide with end of his current lease).

@Adam Philpot, as others have mentioned, you'll want to check with the municipality on any restrictions to use and alterations.