Basically it was just a glorified storage unit.

I would like to hear comments in regards of the current price increase in materials and perhaps what you would do if you where in my shoes.

The home was appraised 120k more than the original appraisal so we know the money is there to cash out.Questions: (1) If you were in my shoes what considerations would you take during this process of the refi?

In an effort to maximize income on a small Multifamily property I’ve been thinking creatively about how to add value and sweeten the deal for a good tenant.First a couple of assumptions.1) Traditional 9/3 triple decker in MA2) FHA loan contingent on Owner Occupied status for 1 year3) I don’t want to have roommates in my unit...What if I rent out 2 units and offer the tenants a storage agreement.

Here is the scope of work which they are proposing for $19000Scope of WorkPaint throughout including trim, doors, and windows.Luxury vinyl floor and carpet on lower levelGranite countertops - total of 26 sq ftInstall new vanityRemove old tile/clean tub and replace shower door - retro wall tile the color of Pepto bismalReplace 2 doorsInstall drywall @ bedroom with brick wall and fireplace whitewash - drywall would only be installed on 1 wallRun AC ducts in basement rooms - tie into existing trunk lines Trim roof of storage shed and add support posts to deck aboveReplace broken glass in two windows - 2 single pain sectionsCheck all outlets/change light switchesTouch up exteriorTrim bushesPaint kitchen cabinets and change hardwareRemove the wall light fixturesCover up pipe in basement bathroomReplace toilets and light fixtures in bathroomsChange all doorknobs for new onesReplace doorbellReplace thermostatRemove storm doorCover up expose electric wires in bedroom closetCaulk all exterior windows and doorsRepair retaining wallPressure wash the exteriorClear all debris of the house roof and replace any damage shinglesReplace all tiles in drop ceilingRemove iron railing and construct 4ft wall around stairwellInstalled handrailLay pine strawRepair door to carport - door is sticking

Aside from the cities legal requirements, yes converting storage space to add another bedroom has always been a benefit and worth doing in my experience.

I suppose there is potential to rent storage there, but since its close by to my place and I run some side business that could use additional space I might occupy the garage.

My other big houses have an outdoor fire pit or horse shoe pit. 

Multifamily, Mobile Home Parks, Self Storage are my primary goals, but anything income producing is also on the radar.My experience has been that when I inquire about a property on loopnet, cityfeet seems like only 50% of the time the listing agent actually responds?

I am basing it off of rent my neighbors in the unit pay, pricing I have seen on my street..and the unit being top-floor, newly renovated, parking included, near the lake, and in-unit laundry/storage.