With four plex you have to pay utilities for the hallway and common areas, also maintain and clean the common areas, because the tenants won''t.

So this is common thought and why it is a real challenge to get debt secured by the ADU value add at higher than 50% of the addition cost. 

So make sure your uses of the refinance money conform to business  purposew if you want to write off the interest.This method is commonly used in a 1031 consolidation exchange. 

Settling is common and you often don't do anything with older properties unless the foundation walls are coming in. 

This is very common so don't feel discouraged by maybe having to do some "inner work" or whatever you want to call it.Hope this helps!

Quote from @Bryant Brislin: Land in the path of development that may seem a little far out, but your gut/intution and common sense from an urban planning perspective tells you that some day, whether it's in 10 years, 20 years, etc it will be a great long-term position for your family to have and hopefully sell at a signifcant multiple return compared to what you've paid for it.

I have to think a ski town is all about STR  not the opposite They currently have about 100K in the bank that was to be used for a common space amenity, but I suppose could be used for enforcement legally. 

From purely a lending perspective, the projections from AirDNA and Rabbu are the only commonly accepted sources for underwriting a short term rental purchase or refinance DSCR loan.

Any insight into what’s commonly accepted would be great.Thanks in advance for any tips or experiences you can share.

Quote from @Jon Martin: Quote from @JD Martin:  I've got a long enough history with LTRs to know that generally you don't want tenants doing more or less anything because it's amazing how little common sense a lot of people have, and this translates into not asking guests to do chores because 1) they've paid a cleaning fee, 2) it's a vacation even if it's a home, and 3) guests that do chores might just put dirty towels back on shelves and dirty dishes back in cabinets.