Removed 44 ft if interior load bearing walls to open up our 4b 3b ranch.

Originally posted by Account Closed:you will need a licensed contractor for all work that requires a permit(load bearing walls,elec,plumbing,etc) Why do I NEED a contractor to change out an electrical panel?

You're in a bad situation.Your tenants are right, but the status of the basement they don't live in would seem to me to have no legal bearing on your dispute with them regarding the upstairs apartment.

Bear in mind that most of the utilities and skirt will no longer be the right size, so new will be required.

I trust my agent, but we are not on the same page as far as the numbers bear out.

But interested in purchasing vacation rental  in PS like @Eric Dowling or possibly Big Bear Lake.

So bear in mind that if you ever decide to sell, you're going to be selling two properties, not one. 

I am a future investor with only knowledge from reading and not from experience, so bear with me if my question here is "dumb":I keep seeing the word "value" associated with cap rate.

The other caveat you mentioned regarding the quality of the area and houses bears consideration also.

And while simple strategies will prove profitable while rising prices bail you out of your mistakes, significant loses will be incurred in bear markets.