a lot of times the numbers in those lower cost areas will look great on paper... and then 10 years of cash flow will get consumed by capex, vacancy, turnover, tax increases.

Consulting with both a real estate attorney and a licensed architect is crucial.The attorney can advise on the legal aspects of converting a cellar into a legal apartment, including zoning regulations, building codes, and the legalization process.The architect can assess the physical space, determine if it meets conversion requirements (ceiling height, egress, etc.), and create plans for a compliant renovation.The 2019 pilot program you mentioned wasn't permanent, and the high costs associated with it discouraged participation.

If your long term tenant is willing to pay more include the utilities and raise the rent. 

That's not including tax benefits.

All of the quotes are including rental income replacement.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23DSCR lenders generally let you vest either individually or as an LLC.

*The taxpayer maintains contemporaneous records, including time reports, logs, or similar documents, regarding the following: hours of all services performed; description of all services performed; dates on which such services were performed; and who performed the services.

Hello everyone, anyone I have spoke to about REI in my personal life all tell me the same thing: don’t get into real estateThey are all people who have had properties themselves, have tried to rent them out and have told me horror stories of tenants and how repair costs or costs to property managers make it disadvantageous to earn profit or scaleI’m trying to invest with my spouse who is also included in these conversations.

PS this one I believe is fully furnished and is included in price. 

I know I'll get "beat up" here on BP for even suggesting paying everything off :) but I'm at the point where I'm ready to stop scaling (for now) and have everything paid off.I'm really struggling to find an Avalanche Debt Payoff Calculator for mortgages.Everything I find is just for general consumer debt.