i'm going to have to have a company come rip up the drywall, dry everything out and re-drywall/paint....I imagine that whole process will take at least a week.The home is a 3br/2ba...their 2 children's rooms are unaffected and the couple in the master could move their bed/clothes to a "play" room downstairs or live in one of the two living rooms in the home.  

It is a nice neighborhood 2 bed/ 2bath $1100/month.

Ah turns out zoning only allows bed and breakfast businesses.

My hope would be to transform it into a 4 story, each of the 4 units having 2 Beds & 2 Baths & a common access to a roof deck area. 

I currently have newer investors, who I feel, are over allocating expenses for single family rentals (typically 3 bed, 1 bath, no central AC units) to the point where it is becoming impossible to find them a deal that cash flow when they run their numbers.I'm curious to gather the opinions and formulas to start introducing alternative calculations from seasoned investors for typical expenses like insurance, mortgage, maintenance, capex (if that is not already included in maintenance), property management, etc. 

I am currently bedding my last 2 rehabsBoth just competedMy plan is to firstly ensure that my assets are performing, by this I mean cashflowingI will then target growth/appreciating areas in DetroitBaby steps at the moment

The way to avoid having your rental activity being classified as a bed and breakfast is not to provide substantial services to your guests—don’t provide them breakfasts, clean their rooms each day, or do their laundry.

I have 23 STRs, 82 beds total.Try running an STR in your geographic area first, within 30 minutes driving distance, to get your feet wet.

I'd appreciate opinions on a murphy bed. 

In my neck of the woods, the cheapest and least reliable schmuck won't get out of bed for less than $25/hour.