"It's not enough, I know that already, that's a waste of time".

I would say ask around and just be upfront with the lenderr so you don't waste your time and get so far into the process only to be turned down later due to having too many properties in your name.good luck,Chris

Or is it better to have a solid foundation of dependable income before jumping ship?

If it was a SFH in a solid area where there is a good chance tenants might stay 2-3 years, would you still consider it a poor deal?

Don't want them to waste more money if I am going to deny them anyway.Any advice is very appreciated.Tina.

Given he has at least some interest (that is, ownership) in the property, its a waste of time to try to sell the entire property.

I'm asking for my appraisal fee to be refunded just because I believe they should have known their own guidelines before they approved me so I wouldn't have wasted so much time and expense.

Doing nothing seems to me to be a waste of time.

You have to consider where the pipes will go for both water supply and drain, where the shut-off valves will be located, whether a window or skylight is present or whether exhaust fan is needed, where the vent for the waste will go through the roof, whether you have electric wiring that can accept a GFCI (old house might only have two conductors on many circuits, lacking ground wire).

It may be a state level question.. more info will get a more solid answer.