It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

My GC is busy however he is very capable of adding crews as needed.

Yes, some extra cuts, but way more stable.

Cory -   it doesnt  sound like you will need  this extra income for  qualifying so no need to wait  fyi  if your hours  will be  guaranteed and stable   , then the  higher income  should be usable ...if the  hours  are not guaranteed (  eg.. overtime ….seasonal …..not consistent ) , then  likely to not be usable Going FHA is not that  wise  as  the  FHA mortgage insurance is permanent and wont be able to  be eliminated  unless you refinance the loan plus you will have a  large upfront mortgage insurance that you have to pay at closing  ….consider using  a conventional  loan  as the mortgage insurance will  be able to drop off or be eliminated in the  future

Usually, the Unpaid Principal Balance (UPB) stays the same and all of the arrears, additional interest, fees, etc. are added together and become the new "deferred principal balance."

It may sound nice to pay a 5% management fee but the extra fees can add up to be more than the other company that charges 10% with no add-on fees.

With simply adding a wall in one bedroom then cutting out a door in the hallway would add a bedroom for us (somehow sticking a closet in there).

I feel like there is a lot of risk as is— adding more just increases your risk of damages.

Separating the units, adding plumbing, electric, bathroom, and kitchen would double the income potential of this good deal.

I like this method because the closing costs on a HELOC are zero or close to zero, so your not adding much debt by way of closing costs.