Have to do a dirt or excavation permit in town. 

You wire funds to a company that is in the business of building buildings, they create plans, get permits, raise additional capital, supervise construction, supervise filling the building with tenants, sell the building to an institutional investor, and if everything has gone to plan then there will be a significant profit and they wire you back more money than you put in.

g=173096))Housing supply shortage: # new jobs per permit issued >1.5 (based on https://www.nar.realtor/research-and-statistics/housing-statistics/housing-shortage-tracker)Rent affordability <.33 (based on https://www.zillow.com/research/housing-supply-32743)Housing affordability <.40 (based on https://www.zillow.com/research/housing-supply-32743/)Based on these criteria I got 3 cities: Raleigh, NCCharleston, SCSan Antonio, TXI would love to know your thoughts on this methodology.

Hey Bruce, I wanted to point out one other potential option that hasn't been voiced, it works in Denver for me but check the rules in Littleton specifically with your permit.

This was a full rehab + re-create the floor plan What was the outcome?

You should have $150k in mind though so you're prepared for worst case - and also to allow for soft costs (permit fees, etc.)$75-90k is typical for a garage conversion ADU in Sacramento.

How much cash have you already injected into the deal including soft costs like architectural fees, permitting, etc...that you can document.

I understand that you have to apply for state permits for septics, but wondering how many you can install/build on a single property. 

However, the previous landlord permitted them to take over an additional 3,000 square feet on the second floor, which is now filled with inventory and unusable for other purposes.While this tenant has been reliable and has a long-standing relationship with the property, their occupancy of this extra space is limiting our ability to maximize rental revenue.

We ran into a bunch of permitting issues from the previous owner so if I can give some advice look for properties that already have a clear CO from the city if you can find it.