I expect renovations to cost $60-70k (I’m padding in extra for worst-case scenarios, I’m conservative like that). 

On the inside, our popular furnishing touches include a neon light up sign and a very comfortable pull-out couch enabling two extra guests to maximize the occupancy. 

Hi Brian, I have Obie in my properties now, although I've never filed a claim with them so far, they are the better rates I can find, ask for their tenant liability coverage, I paid an extra 107 dollars a year and they cover up to 100k if a tenant severely damage your property. 

(A little background) Our primary home has a balance of $327,000 at 2.9% interest While our investment home has a balance of $88,000 at 6.4% interest I plan on paying off both back to back by recycling whatever extra income I have, but was weighing the pros and cons of which to pay off first.

By adding an extra bedroom, and opening up the 2nd unit by restructuring some of the walls, switching around some of the rooms in the first unit to make it more inviting and give it a larger kitchen.

My main question is should we wait the extra time so we can hold the property longer or should we try and sell this year, take the profit and scale quicker.

If they are putting the property in major outlets including WSJ, NYT and sharing the property all over then sometimes its better to pay an extra point, but the 6% is for both buyer and seller.

Here are a few suggestions on how you can maximize the wealth of information available: Check out the blogs and podcasts, or take advantage of the search feature (magnifying glass).

Hey Spencer - It sounds like a great idea to generate some extra income with your empty room!

It may sound nice to pay a 6% management fee but the extra fees can add up to be more than the other company that charges 10% with no additional fees.