For it to be considered a legal (4th) bedroom it must be 70 sq ft/ have fire escape so im thinking it would be better to list it on the lease as office/storage space. 

Whatever you think the value of the property is worth, whoever is lending the money will lend the lesser of the amount to 1. buy the property or2. of the appraisal.

I'll think about the Atlanta meeting.

@Anthony Pollachioli, I think your line of thinking is on the right track.

Or their own file format, which opens their own software.I think I would have to pay extra for outgoing, however, over a certain number of outgoing faxes.

@Alex NgThis is an interesting business model, and I don’t think having Section 8 tenants automatically means more issues.

If so, what neighborhoods do you think have most potential?

I’m guessing the loan approval from them was “too easy”......financing for a casino operation I would think would require some decent experience in the field, maybe your management company contract would help in this, maybe not.  

He also has a loan of 94k that I teased out of him but I don’t think he is interested in signing it over. 

Hopefully that list gives you some things to think about and research!