Value adds are increase rents, convert owner utilized sheds to tenant rentable space, decrease property taxes, shift some utilities to tenants, late fees, application fees.I agree with your statement about paying themselves more if they wanted too.

I always want it in place so I know what the terms and amount limit will be (75% LTV/up to $$$$).  

You should only leverage to the point where the investment can still create cashflow even in a down market....for those with limited capital to invest...not leveraging available cash diminishes opportunity to build additional wealth.

As a result, my credit limit has increased exponentially.

So far we have tried Saturdays and Sundays with limited attendance.

In addition to the checklist, I would also request the following:1) background/credit check, similar to tenant screening (need advise on application to use)2) pre approval letter from bank used for refinancing3) referral from current lender and past lenders (not sure if this is typical?)

My application says: maximum occupants: 2.2.

But if someone has a limited budget and true determination (or in my case, true desperation,) it is a path that can succeed.Good luck.

", is, for the most part, only applicable to the extremely rural portions of the state.

This basically made a lot of SFR or duplexes being used as short term rentals limit their income potential and made the income on par with what you could get with long term tenants.