Found a long term renter through Roomies.com which pays $800/mo. for a 10x10 room.

We have offered they can terminate their lease at no penalty charge because frankly they complain a lot and are unhappy with the residence.

Hey Tony,None of those are bad options, honestly if you have paid off investment properties; the best terms are probably going to come straight from a cash out refinance.Line of credit is a good option due to only paying on what you use but if your planning to start construction immediately I would go with the cash out, its going to be less headaches as well.

So many of us have a lot more on the plate and get it done.

Hey Karl, @Karl SzymanskiI can definitely understand the temptation to do something close to home, but it likely will depend on whether you are planning to manage these properties yourself (which I personally, wouldn't since you are simply just buying yourself a new job) and where the best forecasted ROI is at. 

You're looking at a mix between a lifestyle and an investment purchase.

At first glance, you might notice things are cooling down a bit, but a closer look shows that for those ready to dive in, there are fresh opportunities to be found.Single-Family Homes: A Market Opening Up for BuyersSingle-family home sales dropped by 12.1%, going from 1,056 last year to 928, yet the median sale price actually nudged up 2.2% to $615,325.

Hey @Aaron Cooke - Congrats on what looks like a successful deal! 

In NJ now, the cabals have a new system to use some new regulations to register as non-profits to win automatically if they want to.

Hi everyone, I am looking to find more and new opportunities within the real estate industry and have been listening to BP Podcasts for about 2 years now.