Not a big fan of LTR furnished units, the additional wear and tear isnt worth it in my market and of course smoke smell can be hard to get out. 

Additionally, it's a good idea to connect with a Property Manager early on.

In addition, due to them being eligible for conventional non-commercial financing they typically have lower cap rate than 5 units and more.  

It could go higher with additional work to the house.

If things work out, we'd like to have at least 1 additional property before the end of the year and have 8 in 8 years.

Charging an additional 15% seems a little ridiculous.

However, they can sometimes be higher due to the additional risk taken on by the lender.With a hard money loan, you typically make interest-only payments during the loan term.No, you wouldn't owe any more interest beyond what has already accrued if you finish the project in 3 months and pay off the hard money loan earlyIt's great that you're exploring different strategies for your real estate investments!

I reviewed the SB9 legislation, and it states that properties occupied by a tenant in the last 3 years are excluded from SB9 but only if the project includes demolition or altering more than 25% of the exterior structural wall.

Incorporating a washer-dryer hookup in the main house could be advantageous.This addition not only increases the convenience for potential renters but also adds value to the property itself.

This doesn't replace the need for a MSA that will capture additional clauses needed on a Contractor-SubContractor relationship, this is just a project specific form you would use in addition to the MSA (prepared by your Attorney):This template is for informational purposes only and does not constitute legal advice.