Hi All,In the process of renting our property, we received many applications.

Below is a quote from the county property appraiser: "The cap only applies to the portion of the property receiving homestead exemption.

The call came in yesterday from an older Spanish speaking lady from Kissimmee, FL that received one of my mailers (thank God I'm bilingual!).

Ask the seller to increase the price to 515,000 and then ask to receive a credit of 15,000 at the closing.You are going to hear many people say it can't be done.  

It is good to hear I am not the lone eagle in the reactions I have received.

Initially my thoughts were to decrease the repair cost estimate I received from the contractor by 10k then recalculate the value.

Sometimes it take 2, 3, or even 4 mailings before you receive a call.

I Received my NARPM Designation of Residential Management Professional in October of 2015, and I am the Education chair for both the Virginia Peninsula NARPM Chapter as well as the Virginia State NARPM Chapter.  

I may change in the future after receiving the advice and logic from you as an experienced investor. all I know in order for you  to walk you have to start crawling.

Sam, i have 2 student rentals, a SFH / 4 bedrooms and a 2 family / 8 bedrooms. we can rent up to 4 unrelated and we usually do have groups of 4 kids renting and if there isn't a group of 4, we fill the house with individual students, they are renting by the room, not the house. just make sure that the rent you will receive will cover the costs of the build out, but as mentioned above, make sure the town will allow it and that the zoning laws will allow 4 unrelated.