One reason could be that not all appraisers consider basement space to be "general living area" (GLA), regardless of the building codes.To overcome this barrier, you can:Provide Documentation: Present the city’s approval for the egress window and any other relevant permits or certificates that show the space was done according to code.

You can check their insurance coverage, any active lawsuits they have, their workers comp rate (how safe they are on the job site), and other metrics.

They then did the STR model (with permits) and are able to cashflow a substantial amount.However, this only legally works while it's your primary residence.I've got other friends that used their VA loan to secure the rare plex in Alexandria.

It is typically your primary job.The 40 hr/week W-2 worker is going to have a hard time convincing an IRS agent they are meeting this threshold.STR loophole is a better path for my friends in this category.Once you finally cross the pro hurdle, you're not done!

Are there any open permits on the property?

@Timothy Blackman- thanks  ...get some referrals for lenders from friends / co workers ...contact them all on the same day with the same criteria and ask them any questions you have and  ask for some scenarios ...compare the  feedback and service they provide ...pick one lender to get pre approved with ,,once you have a property - contact all lenders again for pricing options for the actual loan you will need ...hopefully the lender you chose for pre approval will be competitive in their pricing ..good luck

The property was acquired with the long-term vision of capitalizing on the nearby development of a casino, expected to attract workers and residents.

.📌 I’d love to connect with:Investors or developers experienced in BRRRR or rezoning projectsReal estate agents, architects, and attorneys familiar with the local marketProfessionals with expertise in expediting demolition and building permits in AtlantaI’m eager to learn from your experience, hear useful tips, and explore potential collaboration opportunities.

At the time, all work was done with permits and signed off by the city. 

There are a lot of properties that have additions that are not permitted (I.e.