Hello, I'm very new to RE investing, although I've been a landlord for the past year...this is probably a very basic question, but nonetheless it puzzles me - what is the most correct way to calculate ROI for a rental unit that has been converted from a primary residence?

The interest will be higher than a HELOC on an owner occupied residence.

If you are looking to use your W-2 and tax returns to qualify, you would be using a conventional loan, which typically don't allow LLC vesting (unless you transfer the deed later).

I agree with you that it would be best to have both the company on the lease in addition to the tenant, we're just having a difficult time figuring out how to do that because of the language on our lease- It just used the word "tenant", so we're not sure how to clarify one party is financially responsible, while the other party will actually be residing there (tenant)-

Owner builders can pull permits if its a personal residence but not investment properties

We are open to renting out our primary residence, and renting an apartment ourselves, if that helps anything. 

For those of you who have been divorced, you should know that a judge can obligate you to pay child support, alimony, college tuition, private school tuition, mortgages etc...IS IT ILLEGAL for a landlord to ask for the finalized divorce agreement to see what potential FINANCIAL OBLIGATIONS a tenant is/could be responsible for that would affect his/her ability to pay the rent at a new residence?

By then, I don't believe the buyers or "demand' is truly qualified to defeat the inventory increase.

  * Water- if you are not billing it back to the residents most utilities have a base rate then a usage charge over the base usage allowance. 

Hi everyone,I am looking for a HELOC on my primary residence in NYC (not listed as such in the W2).