@Mehreen ShehdadIt is impossible to answer the question as the amount of the HOA dues are specific to the complex and in most instances the size of the unit within that complex

Anthony, I don't think there is a standard "one size fits all" way to get started.

Does this portion get signed and notarized before or after I serve the tenant?

There are one bedroom apartments renting for $900 a month in the Spring area so based on the size and being familiar with the area $1,495 sounds good.

The condition of the house, the property size, location, age of the house, finish work, etc. all weigh in to valuations.

I think it's still the case here in Charleston County that you can add an accessory dwelling of up to 800 sqft as long as your lot meets certain minimum lot size requirements.  

Like I said if any of the deposit was from the deceased I'd ask a lawyer what happens with that portion.

Sites like Zillow and RentOMeter say that my ask of $1400 for rent is near the top of the market for the area, but still reasonable for a unit of this size - and that is even without the basement.So does the basement effectively get thrown in for free?

., a portion of its income will be added to your ability to service the loan, but you will still likely be required to come up with 25% deposit if for an investment - and they will only be lending that remaining 75% on the PURCHASE price, not what it should be worth!

The current owner is shopping it around for 1.35m (7cap) and the proforma numbers are as followed: ANNUALIZED INCOMEActual MarketGross Potential Rent $191,639 Less: Vacancy ($5,749) Effective Gross Income $185,890 Less: Expenses ($91,497) Net Operating Income $94,393 Debt Service ($65,592) Net Cash Flow after Debt Service $28,801 Principal Reduction $17,403Total Return $46,204 ANNUALIZED EXPENSESActual MarketProperty Management Fee $9,582 Replacement Reserves $5,250 Building Insurance $6,712 Maintenance $12,560 Taxes - Real Estate $36,296 (37220 w/o exception)Utility - Electricity $2,453 Utility - Gas $12,369Utility - Water/Sewer $6,275 Total Expenses $91,497 Expenses Per RSF $8.39 Expenses Per Unit $4,357I did some additional digging and found that they offer Wi-Fi for the building (I talked to a rep and said providing service for a building that size should run 285 a month) and the trash was left off which runs about 285/month.