Typically the stairs to the basement are less of an issue because there is commonly a 2nd exit to the basement for which the owner can use to get in furniture, fixtures, etc; however, if it is to a finished attic space, it may be of more value to really make the space feel more connected and usable.If you do decide to rebuild the stairs, there can be some difficulties making them meet code, and would likely cause an impact to the surrounding spaces.

Hard money lenders (at least in Columbus, Ohio) are going to want to see experience from their borrower, a scope of work, after rehab values, and an exit strategy before they lend to you.

To 360+ 36K financing + 4K closing = 400K all in for a project that you have 12 months to buy/rehab/rent/exit 2) Rent comps: 1bed/1bath isnt same as house vs condo vs garage apt vs hotel style house hack.

You may be paying that mortgage for 6-24 months without any income.3) Have a clearly defined exit strategy that can take place with a non-paying tenant in residence.Even with all of that, there is no telling if you'll survive.  

My investors seek rental income and willing to hold on for 5-6 years for an exit event.

My investors seek rental income and willing to hold on for 5-6 years for an exit event.

When I look at a deal, I always assume that when I plan to exit (in 5-7 years from the purchase date), the market is not strong and that real estate prices are falling.

@Kalib Williams in theory, yes you can do this, but not at 80%.For the exit strategy from the 203K loan on a 4-unit, you have 2 options using Conventional financing:1.

We know how the saying goes never mix "family and business" but if you do, establish who will be responsible for what, what is the exit strategy, what is the goal for each property, play out every thing that could go wrong and etc. 

When we go to purchase, we are almost always looking for something to BRRRR and consider fix-and-flip as an alternate exit strategy.