Someone gets injured in the basement your home owners insurance probably will not cover it and the liability would be pushed back on you.Would suggest discuss the finish with a Licensed Contractor, Licensed Expeditor and maybe a zoning attorney in regards to adding a unit to current zoned two unit converting to a 3 unit.Also, when buying a two unit and converting it to a 3 Unit, read your documents with out knowledge of the conversion the bank holding your mortgage could call your mortgage.Let me know if you have any questions.RegardsJoe Scorese

We are moving to our first project of fix and hold using BRRRR strategy. 

If things get out of sorts, the lease agreement is what holds true. 

Investment Info:Small multi-family (2-4 units) buy & hold investment.

Gals and Gents,I have read a lot in the past BP articles and listened to many BP podcasts, it's a pleasure becoming part of the crowd.Let me introduce myself, I am active in the NYC market, I buy a lot of class C properties rehab / convert, rent them out, I have done rinse and repeat many many projects and I am seeing nice returns, not always fully recoup my full investment but I am generally finishing all in at around a 9 or 10 cap!

Buy and Hold?

Whether you are house hacking, flipping, or just buying buy and hold properties, I think Beaver is a great market.

Our clients issue w2s directly to their kids and follow a similar structure as the one mentioned above with the hold co and have had success doing this "pay your kids" strategy.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

I plan to find and vet a small and cheap single family home that would cashflow in a traditional real estate buy and hold method (find a good deal). 2.