You might very easily find someone nearby who'd love the extra side income of coming by for a couple hours 2-3 times a week to clean. 

We are talking about starting up a Meet-Up, but still working out details.

Thats a year for an extra 10k.

The 585,000 number is based on the income-approach used in commercial properties, but it sounds like the appraisal approach would have to be comp-based because it is still a residential property (4 units) at the present time and there is a chance the city won't allow the extra unit.The 461,500 number is the all-in price - purchase+rehab+holding costs. 

Feel free to reach out with some basic details on the properties. 

I have a few thoughts but if you could give me more details like, are you the owner of the mortgaged property and have done a lease option?

Withoutknowing the details I can not suggest which would be right to add on.Several you shouldpay attention to are:- Ordinance & Law: Provides additional building coverage to deal with rebuilding costIncreases due to changes in Zoning or Building laws- Personal Injury Liability: Libel, defimation of character, wrongful imprisionment, etc.

Let me start by saying I have not visited the property yet, I'll be doing that in the next week or so.Here are the property details.  

@Bob Green Great details.

@Nurzhan Abenov congrats and thanks for the details on your flip!