Following to stay up to date, great insights on this post.

Especially starting out with little cushion money.If the appraisal comes in higher, which is a good chance if you mindfully underestimate, or the LTV of the refinance is higher, then I should be doing great.Hope this helps and if anyone has any further insights, please share!!

@Hui SongOh ok great insight!

We either make improvements to the property, add money to the 3 month reserve account if theres any gaps or add it to the cash flow for the year.  

Additionally, since this project is already in flight, you run the risk of mechanic liens taking priority over your loan as they can backdate the lien to when work commenced. 

Have you investigated whether zoning allows you to add an additional unit to your property?

Since I am targeting on 4 units multifamily with FHA loan, I assume ~75% rental income from addition units can count in.

Welcome to A Skeptical Dude’s Take on Real Estate: a frank, hopefully insightful, dive into real estate and financial markets, from one real estate investor to another.

@Dave FosterThank you for contributing additional information regarding DSTs and 1031s.

Require that they name you as an additional insured on their poliyc2.