It's REAL and we can control it.You will need two things...A Promissory Note, andA Deed of Trust.To fully answer your Qs, here are the main terms you need to agree on with your lender:1.

I'm a local investor and a licensed realtor in New Orleans.

Like you said, a new bedroom and a bath better selling point to a new tenant.  

I would just like to write a quick introduction about myself: I am 31, single, no family, I work in Underwriting, a former and still licensed Flight Instructor, and a current law student.

Obviously they left the door open and a bird flew in....

I’m hanging out in the C, D and F+ area until my passive income surpasses my active before potentially buying B and A properties (I may never buy B and A, at least not as a rental)

Honestly- it's SO much work and, as I mentioned above, it can potentially put your license in danger.

There are 2 duplexes and a triplex.

I used BP calculators to run numbers as a Fix and Flip and as a Buy and Hold, with both cash and conventional financing in the interest of multiple exit strategies.Quick details:Property is a SFH in a trendy neighborhood, three of the homes for sale within a 5 minute walk are flipped homes.Property has 3 beds and 1 bath.

Former business partner and a good guy.