My idea to achieve this is to convert the studio into a short-term rental.I’m trying to determine if I’m forcing this deal to work by relying on the short-term rental strategy or if it’s a reasonable approach given the numbers.

Large corporations are moving to the area which is very promising long-term for REI.

What about rate and term refinancing?

. $300sqft to build at least.If you have any sort of mortgage on the property you will need an attorney to handle the mountain of paperwork the bank will give you for a lien release. 10k+, also probably some nightmare terms to have to build and sell immediately and god knows what.At this point a year has passed and you have spent at least $60,000 cash, you're about to break ground on a structure that will cost you at the very least $400,000 to build, you are still 1 year away from cashing out because you have to now build a house.

The worst part is they refuse to help me get the account back, quoting their terms of service and stating they are not liable for any issues with my account. 

I have a window into the PRE REOs coming to me, and lately, that list is getting LONG.

This creates a market for both short-term and long-term rental properties.Affordable housing, Compared to cities like New York, Washington D.C., or Boston, Philadelphia offers relatively affordable rent, or section 8 tenants, especially those who are relocating from more expensive areas. 

We have a home that we are almost done remodeling that we would like to try the mid term strategy to increase our cash flow vs long term.

I’d think long and hard about this and possibly set up financial parameters for who is responsible.

Hi David, If building long-term equity and scaling quickly are priorities, then option 2 aligns better for you.