Originally posted by @Zachary Sexton: But I'm also okay spending the next year or two learning, networking and saving for the next market correction.See this is the bad assumption that everyone makes on Bigger Pockets...that some market correction is coming. 

Originally posted by @Mike G.

However if the Building Department has no record of this separate unit and the property is a single Family, you are likely out of luck and will have to prove that it is an existing use which may be difficult without original home plans or records.  

Originally posted by @David Cruice:If you want to do it right (which you should do in this case), you'd have to put in a new common-area meter that both owners would be responsible for splitting. 

Remember that when refi your taking out almost all of the original $52,600 you had in the deal.

Originally posted by @Jay Nielsen:Right.  

Originally posted by @Thomas S.

Originally posted by @Cliff Tsang:Thanks @Nathan G. - agree with all your points.

Originally posted by @Ori Foyer:My tenant moved out on the end of June, I rehabbed the property and plan to sell it.

A little background: I'm originally from the St.