I’m on my town planning board and we get all sorts of conceptual projects that never come to pass.

Hi @Dina Onur - what a great project!

Dont start with a large project.  

Main project was to take out the old boiler system and upgrade that for the radiant floor heat.

I would imagine the program would have to allow the projected rental income from the property to help them qualify from an income standpoint?

They are major BRRRR projects with the main exit strategy being to hold as medium term rentals.

It has been my life's mission to build my own duplex, house hack it & use it to catalyze the BRRR cycle.As I get closer to breaking ground on the project, I'm still not 100% confident in it's feasibility due to the costs of land & construction considering it is mandatory to secure an appraisal 20% above build & land cost. 

The reality is that imposing expensive and time-consuming sprinkler installation requirements will drive property owners to either scale back necessary renovations or avoid permits altogether.Currently, when owners propose substantial renovations, they are often informed that their projects will require sprinkler systems, which can cost around $45,000 for a typical three-decker.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $465,000

Cash invested: $80,000

Checkout my Airbnb here: airbnb.com/h/madeirabeachoasis

Salt Water Pool & Hot ...

Campus housing has been under tremendous headwinds for the last 4 years.These properties were sold with extremely aggressively optimistic projections, as well as a price that represented a significant premium to fair market value.So sorry to hear about your investment.