My construction loan of $400K will automatically convert to into a mortgage.

It was originally a big old duplex illegally converted to student housing by the seller so we initially had 13 rooms rented.

It is my primary residence.I know I need to consult with acct but does anyone in DC know tax implications in converting to a 2unit rental.

The "Workshop" was converted into a permitted 2bed/1bath "ADU" (Accessory Dwelling Unit) which is rented long term but I plan to also rent on Airbnb once my tenant's lease is up.

So what is the better option:1) Take it as needed and then have my construction loan convert into a regular mortgage2) attempt to self-fund as much as possible and if I need the funds later take an equity line of credit because I will own most of the building3) another option?

Tellus gives you the option of adding a bank account to route all of your payments through or have the payment converted to tellus cash, which you can then transfer to your bank account. 

In addition to being comfortable land lording, I enjoy the fix-em-up’s around the house and actually converted my current Milwaukee home from a 3-1 to a 4-2 and added 700sqft with a finished basement.

For now I think my focus is value add duplexes or properties with 2nd structures that can easily be converted to secondary units.

For me, it was an issue of determining if they were really nuns, not some imposters.BTW, the reason for the nuns renting is the convent which originally housed 500 nuns, by then, housed less than 100, and they are converting the building to offices for commercial rental.

The house has an attached garage that was partially converted to living space and never finished.