How do we handle application fee's based on only having the business apply vs 3 residents.

PHX is in more of a flipping market than renting market atm, so that game-plan makes a lot of sense. 

Spend your money on built in bunk beds, a garage conversion to make it a 4 bed (we find 4 beds perform much better than 3 beds), and your entertainment spaces (living room, game room and backyard). 

I would rent it out and then do a cashout refinance based on the new rental income, DSCR loan.

It is a fair start though, but I also like to have a map view to see if there are glaring value changes based on location from the subject. * 6 month comps - this is usually a good rule of thumb in a typical stable market, but can be somewhat confusing in a faster moving market.

It's very hard to play the game of real estate without it, and I'd encourage all new investors to work hard to maximize their income upside, and work hard to get into a stable position before obliterating your DTI on a capex nightmare.

In other words, are the upgrades an expense or investment?

It's wasteful and at this point I think the only real beneficiaries are the dinosaur print publications.I already operate 3 LLCs for various partnerships based in other states. 

Word of warning to cohosts as well . .. 

You could see if your landlord would be willing to entertain a bid from someone that you found that is a licensed contractor in your state.Is the replacement assessment based on what the repair person stated, or just what the landlord wants?