I will guess that by the time you get building permits and complete your improvements your cost will b no less than $250,000 and you lost one year of rental income and you will have to pay for utilities for a whole year and maybe run into many huge unexpected expenses.If you really want honest opinions then post all the realistic numbers for your plan.

Annual rent ( Rent paid by current tenant and rent paid by myself while living in vacant unit) - Estimated Operating expenses (prop taxes, insurance, utilities not paid by tenants, R&M, etc) - Annual debt service on 1st mortgage loan - interest for the private party loan = what’s left over for investorThat’s the easy part.The exit value will be much tougher to estimate and will be dependent on where you think property prices will be at the time you plan on moving out.

Projected rent: Main Floor: $1450 Basement: $1000 Carriage Suite: $1200 Garage: $300 Total: $3950 (utilities included)Projected net cash flow: $1220For more pictures:https://photos.app.goo.gl/FV6j...

Tenants pay all utilities except water.

Utilities are split per person in the house.

For the past 2 months they don't have electricity in the unit but they have all other utilities as I pay for it through association.

Utilities are split per person in the house.

Just keep in mind the cost of permits and building materials and utility upgrade charges etc.

Forces the issue assuming that you want your buyers to see all the utilities working. 

I utilized a personal loan iao $60k to purchase a home I closed on just a couple of days ago.