So if you are doing an addition, you are only contributing to the structure portion of value, not the land value.

Unless the borrower is self employed and takes a lot of expenses to show lower income on their returns then it usually makes sense to pay a couple thousand a year in higher interest (you can pay like 4,000 a year in additional interest for DSCR if you are saving 30+k on your tax bill kind of math lol)

We also allow users to amend a post at any time with additional information.We have no plans to change how the forums work as it pertains to the deletion of posts.

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Also there is an additional tax on the returns due to the financing. 

Of course unless your buying defaulted notes at the get go then again as Chris mentioned this type of fee should be handled up front.. and if it new origination your making and then they go bad.. in your foreclosures you can charge the borrower these fee's when they cure or add it to you opening bid and when someone buys it at the court house you get repaid..

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

I'm currently renovating my rear unit and it has the perfect layout to split into 2 units by adding a wall and an additional front door.

Or explore what BP has for calculators under the 'Tools' section.  

Message me if you want to explore options or discuss further.