This would put our initial investment at around 126K and a cap rate of 6.4%.

The downside is you would initially purchase in your name instead of an LLC to get the residential financing, but could quitclaim them to an LLC down the road. 

I will also always ask at the outset if they "want space," or initially apologize for hovering over their shoulder.

We can help more if we know more details.Hi Michael, I appreciate you taking the time to respond.By no means was my initial message meant to be 'coy'.

Since I am not handy and am limited on time, I hired a handyman service to take care of the project.It ended up costing quite a bit more than I initially thought.

My initial plan was to perform land development and subdivide into 1/2 acre tracts and owner finance them starting prices at 60k per lot plus a reasonable interest rate depending on how long of a term would best fit the buyers budget.

Initial plan was to develop & subdivide upfront costs and difficulty to acquire loan for construction and utilities would make me change plans.

When I bought it, the returns were looking nice at a $1,100 per month rent estimate but it's nice that when construction was completed the market rent was $1,275 per month so that was an extra bonus of $175 per month per unit (or $700 per month total) over my initial cash flow projections when I signed the contract to buy the properties.

We initially chose this QC property with the thought of potentially keeping it as a rental down the road.

So even if it is on the low end it would increase the value about 60% of what I would have paid for it initially and the total investment (house plus repairs at 40k) still have 20% equity to start.