Not counting on it, but could boost me $10-15,000.The top has to go, it would still be around $60,000 to rehab a 960 SF 2 bed, which wouldn't work.

I agree with a lot of the comments here - that no credit is not as bad as poor credit.In our screening process, we have built "no credit" into our scoring system:They score nothing for the category "credit score"But they get a high score on "payment history"These sort of wash each other out, giving the applicant a "neutral" score that is then influenced by other categories.This has seemed to work well for us overall, and we don't have too many problems with people who don't have credit history - it is often a reflection of good budgeting, especially in older individuals.

But paying off the cars should give you a nice boost when qualifying for your investment property, so well worth the effort, in my opinion.   

@ross Ellington dropping a storage shed in the back yard and tacking on additional rent is an example of endless ways to boost rent above market after you've secured a qualified tenant.

However, we thought we could use a boost in the early going and so we waited to find a great home in a great upscale neighbourhood that had a rental unit in the basement. 

The Johnson Govalle neighborhood association can be difficult with blocking zoning changes, but if you have 20 million to pay for dirt, you probably have a few bucks to influence the neighbors and the city council. 

However, I'll share my thought process:It essentially boils down to the total cost of one over the other, in terms of actual out of pocket expense.The biggest variables that would influence my decision would be:-Financing - How well can you leverage when you compare building vs. buying-Holding costs - How long will it take to complete a property?  

You may not be actively involved personally and provide services to your IRA, as that would essentially amount to making un-documented contributions to the IRA and artificially boosting the sheltering value.An alternate and entirely different structure known as a Rollover as Business Startup (ROBS plan) exists that allows for retirement funds to be utilized to capitalize an active business in which you are hands on engage. 

It could hurt or be a nice boost to those savers.Makes me think reducing personal debt is a good thing.

A lack of recent comps would also influence the appraisal.