This will show lenders that you are serious in running and scaling your business.Esther - Dellanue Ventures, Inc

This is helpful for monthly bookkeeping and tax return preparation. 

I have also considered this, but there's only one shower and I am not prepared to share the shower with a tenant :).

I’m fully prepared that there may be unforeseen costs, but I can’t even estimate properly for your standard cosmetic rehab… have you walked through the property?

I'd want to know more information to make a good recommendation, but it sounds like you would have a strong argument if everything else is the same except for location.MP tasksTenant Management:Showing properties, screening applicants, and preparing leasesWelcoming tenants and addressing inquiriesCollecting rent and managing evictionsProperty Maintenance:Cleaning, repairs, and inspectionsAdministrative & Marketing:Supervising staff, purchasing supplies, and promoting rentals (ads and website)

@Roberto Kattan-make sure you have your  financing  / loan pre approval completed  if you plan to  move  forward with purchasing a rental ....this  will  allow you to be prepared and also to be more educated on the  current  numbers  ( rate / cash to close / payment  etc ...) 

@Renee LeFevreTo rent out your basement, follow these steps: check local regulations, prepare the basement with separate entrance, screen potential tenants, draft a lease agreement, set the right rent price, consider tax implications, update homeowner's insurance, and build a positive tenant relationship to attract quality renters.Good Luck!

If the comps truly support $280–$290K, the appraisal might not hinder your final sale price, but it’s critical to prepare for hiccups.

I do plan on building up the savings as much as I can before that time comes as I don’t want to be ill prepared for unplanned events as you mentioned.

I'm in the early stages of considering a venture into the short-term rental business in Austin.