Essentially, this works the same way.

It will essentially be a new house when completed.

I think DCF / IRR projections of best-case / worst-case / in-between scenarios are essential to making informed decisions.

Essentially, your looking for recent SOLD comparables that have similar interior sqft and parcel size, same number of bedrooms, built around the same year, updated with similar features (granite, new cabinets, etc.) sold within the last 6 months, all within the same neighborhood or within a 1/2 mile radius.

Essentially you're paying $250 a week.

Some will accept any qualified engineer, some will have a list to choose from and some will have a specific company that they essentially assign.

The peak rental season in this part of the country is essentially March through September.  

Paying down debt is essentially the same % as investing that money over time.Making this up, lets create a real world scenario.

We are looking to do the same thing for a flat in Athens which we'll turn into another artist's studio.Instead of the 2% rule, I have a 3% rule when looking for properties like this: it covers management and cleaning fees and utilities.Some key elements to doing well on Air BnB:* Beautiful, well-lit photos* Excellent location convenient to transport* Well written ad with thorough description of local attractionsWhat can make up for a lack in any of the above:* A quirky design/unique lodging experience, at a low price NB: Air BnB type services have been drawing the ire of hotel lobbyists to local governments, and many renters don't pay taxes on the $ earned.

At that point, the additional mortgage payment (provided you have positive cash flow), essentially gets wiped out from your DTI ratio.