For those that use answering services for their direct marking campaign.

The lender wants to know worst case there will be enough cash flow to make debt service if you can't fully lease up the project right away.Usually a buyer ties up the land for 6 to 9 months before purchasing to see if they can get their project approved and advance commitments from some tenants for the spaces before closing on it.

Elvia, the last time this came up for us in Bolingbrook, the village reported that theyhave adopted the 2006 International Property Maintenance Code guidelines on this, it boils down to 70 sq. ft. of bedroom space per occupant.

Thanks @Mark Wood

Legally sidewalks must be accessible for wheelchairs (ADA) and the planters take up the extra space.

But for now I'm sticking with the 5 and have moved back into the LTR space. 

It includes 4 apartments & 1 storefront/ office space.

Maybe you could find a 200-300 from the budget and paint just the main spaces in the house also.

I would also read @Mark Fergusons book "How to Make it Big as a Real Estate Agent'.

Do you see a point where this strategy of adding functional space reduces its value factor?