Typically, with fix-and-flip loans, you complete the renovations upfront, and then the lender reimburses you via the draw schedule.

If so does the cash out reset the loan to the original amount or does it increase it to include the value of the new unit (i.e. original loan was 300k and after cash out it becomes 550k?)

The long-term plan was to convert the garage to an ADU for future cash flow.I'm seeking advice from fellow investors.

I called a real estate attorney today based on a Google search, and I got an earful about how Subject To was not possible, the bank would call the loan due, I need to have 'very deep pockets', etc etc etc.I know it's possible and there are people doing these types of deals.

FHA loan How did you add value to the deal?

Now that they are growing again, affordable supply (in terms of single family homes) can no longer be added due to labor and material costs.

For me it is about long term planning and I am fine with slow and steady of buy and hold. 

Total cost significantly below their current monthly rent.3- If you have to 'give them' to the current tenant to get them off your books then do if it makes sense long term.  4- Don't do purchase contracts longer than 18   months. 

Why do you have $60k in student loan debt but only earn entry level wages?

The reason I went with them instead, is Ameircan offers a 80% LTV 30 year long term whereas Century at the time only did 75%LTV.