If you decide to hang your hat on the renovations as the reason for the rent increase- understand that most rent stabilized cities don't recognize normal capital improvements as justifications- and they will also want to open your booksIs the building in Trenton?

Zillow says its worh $290KRural Property MS – I own 30 acres Vacant with improvements (cabin and pavilions).

If you want to own bankable real estate that will truly improve your overall financial situation the boring approach of working hard, saving as much as possible, having the foundation of a solid career and investing slowly and wisely succeeds much more often than rushing in too quickly and taking shortcuts.  

Zillow says its worth $290KRural Property MS – I own 30 acres Vacant with improvements (cabin and pavilions).

We are still weighing my options at the moment but leaning towards having him apply for the rental, agree to the lease (assuming the credit / bg check isnt negative) before closing and if not (if he doesnt agree or the his credit profile is poor) then asking to vacate within 30 days

hi everyone i am a newbie and i have a question about a line of credit i want to take on my personal residence. i have around 650k equity on a million dollar home with 350k (mortgage + old line of credit combined). i wanted to take a new line of credit of about 500k to pay off the old mortgage and line of credit to be left with around 150k cash for some home improvements. i have been seeing rates around 5% but suntrust (link below) has an offer for 3.75% plus -.25% discount if paying from a suntrust account making the rate 3.5%. 

You're probably not going to end up with any cashflow, but if all the bills can be paid and you can live in one unit for under $500/month, you've likely shaved at least $1,000 off your monthly payment by renting out the other units, and can use that $1,000 in savings every month to save for the next property or make improvements to the current property and increase it's value and get more rents.The real problem with this projection is that no one has a real estate crystal ball, and far too much can happen with the economy and politics in the next 2-3 years to be able to accurately tell you what the experience will be like in Phoenix.A real easy way to experiment with this would be to look up 2-4 unit multifamily properties on Realtor.com or MLS, see what the units are renting for, deduct one of the unit's rents for you to live in, and then use a simple loan calculator to see what your monthly PITI would be vs. the gross rents.

The house that I live in now (great equity going in/low interest rate) I bought with an intention to stay 5 years do small improvements along the way (to increase value), and rent out to grad students after refinancing.

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The HOA Declaration of Trust it states the following:  "No unit owner shall make any addition, alteration, or improvement in or to his unit or any portion of the common areas and facilities to which he has the exclusive use, which may affect the appearance, structure, or mechanical systems of the condominium, or which is otherwise restricted by the Master Deed without the prior written consent thereto of the Trustees.