I just extended my HELOC one more yr at 2.5%, and yes, its a variable rate that can go up to 20%..

If you don’t like to gamble buy the 5 year extended warranty for $100 ($20 year is another $2/mo, now you need to charge $4/mo extra to provide washer/dryer.)I’ve had more problems with refrigerators than laundry but I certainly wouldn’t try to rent out a home with out a fridge.

@Richard Sherman update: I got the seller with owner financing to extend same terms for another 13 years!

Currently I am getting ready to build a nice Sliding RV gate, and I have just recentlyfinished building a nice block wall around the property as the old one was falling down.So I am thinking my best bet is to do all those things, get in some good tile, re dothe kitchen, extend the back porch, close it off add 2 bedrooms and another bathroom.

But because I am not sure if I want to hold on to this property long-term I am also considering a 30 year fixed which would lower the payments also, but extend out the amount of time it would take to pay off the property.

The same lender isn't willing to extend a little more credit?

It protects you in the case of a lawsuit, but having a very large coverage amount also makes you a more attractive target for lawyers.Also, did you ask if your regular residential insurance company would be willing to extend insurance on these properties?

Since your property is zoned as RM, I’d take advantage of extending the property into a duplex; rather than adding a ADU.

I am sure this can be just a kicking off point for extended discussion if anyone is willing to engage. :) 

That's even more awesome if your network extends down to SD!