For much less I can turn the dining room into a bedroom for higher monthly income. 

@Megan Tavasto I’ve started using Housie.io, seems to be more comprehensive with background checks and income verification directly from bank, not pdf which can be forged

Larry, If I’m following your math, you need to find a way to increase your income outside of the rental property to cover the mortgage+heloc $1500 payment.

Otherwise, you'll be pierciing its corporate veil (assuming you care about it).Hope this helps. 

That's a good question. it is technically income to the investor.

As long as you qualify based on income I see no other roadblock. 

AIRDNA: As is (1bed/1 bath): Projected Revenue $50k/year, Net Operating Income $24k/yearPost rehab/rebuild (3 bed/2 bath): Projected Revenue $120k/year, Net Operating Income $76k/yearZillow Rent Estimate:As is (1 bed/1 bath): $2,900/monthProjected rent based on comps in area: $6,500/month We would also more than likely include an ADU in the new build.

I have wondered though if there are government grants/tax credits for providing internet to low income tenants.

Such a move could affect your ability to secure future financing by impacting your debt-to-income ratio and overall credit utilization.

You probably aren’t going to do enough to prevent a lawyer from piercing the corporate veil and making you liable anyway.