My fiance has a family member that is willing to sell us a house for way under its current value that she inherited from her adoptive mother, who passed away a few years ago.

Loan to value ratio: The higher the loan to value ratio (LTV) is, pricing takes a hit.

Market selection, value offering, pricing strategies and marketing all play key roles in a successful short term rental performance in todays competitive market.  

Buy in a B or higher neighborhood that will hold and increase in value.

@Karl Dunlaphouse hack, live-in flip, or standard long term rental with minor cosmetics or value add

The policy provides a limit for the Existing building based on Actual Cash Value (depreciated value). 

To find out whether home hacking is feasible, do a complete analysis of the local real estate market, taking into account trends, rental costs, and property values.

The policy will cover the Existing Building normally at Actual Cash Value (depreciated value) and the improvements you are putting in at Replacement Cost.  

How did you add value to the deal?

Here is an update on a black couple who, after "whitewashing" their home, saw an almost $300K increase in the appraised value of their home: https://www.nytimes.com/2024/03/25/realestate/racial-bias-ap...