You can look at successful STR's in your area and make a list based on photos.  

Another variable in the amount of rent that a Section 8 tenant can pay is HUD limits their rent payment based on the amount of their income. 

This will vary based on region but in general 2 – 5 points, 9% - 16% APR (meaning this is the annual rate so divide it by 12 to get the monthly interest amount), and documents fees can be from $600 – $1,900.

That would be my absolute minimum starting point - but that is based on my market. 

If the numbers don't work for expanding the building, explore the potential based on the current space. 

and are you certain that the appraisal is based on AS IS value and not subject to value (ie value after repairs)? 

View report*This link comes directly from our calculators, based on information input by the member who posted.

I think it is fair to say that there is somewhat of a tradeoff between markets that provide positive cash flow on day one and relatively high appreciation-based markets.

argues that zoning ordinances should prioritize functional families and not exclude safe uses of housing based on household composition.

It's a GA LLC, but we're based out of CA.