Refi after construction.These numbers consider only the portion of costs of the HEL attributable to the land purchase, not the payoff of the HELOC (which we took out to buy the Seaside condo).Cash In:                     $66,166 (Cash, 1 year of debt service of HEL, debt service of const. loan, furnishing)Amount Financed:      $548,000 (home equity loan + construction loan + closing costs)Total Cost of build:     $614,166ARV:                               $850,000 (or rather "after construction value")Refi                                $637,500 (75% of value + closing costs)                                        Cash Out                       $89,500New payment             $4500/month (54,000/year)Estimated Cash Flow (pre-tax numbers, so actual mileage may vary)airBNB year 1:            $70,000     (net income $16,000)airBNB year 2:            $100,000   (net income $46,000)airBNB year3+:           $120,000   (net income $66,000)ROI (construction year):    0ROI Year 1 of STR:              24.2% ROI Year 2 of STR:              69.5% ROI Year 3+ of STR:            99.7% Did I calculate these ROI numbers right? 

I believe Alexandria city allows it but portions of Fairfax county do not allow it. i would go option 1 personally. 

Also, you don’t need a business license just to look at properties, but if you buy a bigger property, like a multi-family unit, you might need a certificate of occupancy, depending on the local rules.For business trips, most expenses can be deductible, but if it’s part personal and part business, you can only deduct the business portion.

That said, I've seen many of these carriers are pulling away from habitation exposures (non-renewing a good portion of that business).  

Some places do this annually, some places do a portion of the town every year giving them a total cycle of about every 4 years, and in my area it’s common to do a whole town reevaluation every 4-5 years.

If they're paying for overages, they'll reasonably expect a refund for any unused portion of the utility allowance.

Very commonly the resident pays a portion of the rent so your rent increase will affect their budget and their lives. 

I myself was duped into investing $5000 (unaccredited) into the fund and will now no longer be able to liquidate any portion of my shares.

I either jack and jill the bathroom or add a hallway blocking off the bedroom portion to that bath to allow access for the rest of the members.  

You could house hack and use the other portion to AirBnb as then you meet the primary residence requirement in B.C.