If people are getting free electricity and water, they tend to be a little less frugal :) .Then check on insurance costs for a MFH and add that to your projections.Finally, talk to your contractors and see what requires permits, what their experience has been in getting them to pass inspections, the timeline and the cost.Factor all of these into the decision to move forward or leave as is - maybe advertise it as a 4/1 with a home office with outside access and get more rent that way.One last point - I hope that the addition you mentioned was done with permits and is reflected on the tax rolls because if not, you may open a can of worms you wish you had not.

Depending on the exact scope of your intended business plans speaking to an attorney or CPA might also be recommended. 

This is not a great rate, but its in range and could be solid depending on your credit, leverage, etc. 

All depends on your profile as to which will be the best fit. 

There are several ways to qualify for a new purchase, but the current income will depend on how much is claimed on tax returns for 'full income' documentation.

That's less than 22% of the taxes owed!!!! 

There are several to choose from that all work well, depending on your needs. 

Hi Pradeep - depending on how quickly you plan to complete the rehab, it may be worth exploring your available resources for refinancing as well.

Hey FarhanIncentives available in New Jersey: SREC-IIs (Solar Renewable Energy Certificates) and the federal Investment Tax Credit (ITC). 

Are there tax implications for doing a QCD from SMLLC back to personal name?