They seemed very adamant that a business credit was the way to go versus a personal credit.

The Income approach will utilize a gross rent multiplier, versus an income capitalization approach (cap rate) approach used in commercial.But back to Dave's question: are there really no other duplex to fourplex in the area?  

Have you priced out the permits and how they differ for a brand new structure (the Boxabl) versus renovating an existing structure? 

Keep in mind, like many things, survey accuracy has improved in the last fifteen years. 

If another heir does make a claim, you could deduct the reasonable and necessary costs of renting the property (but not the costs of improvements). 

@Evelina KhaimovaBelieve it or not, it might actually be more profitable for you to purchase a BRRRR in a neighborhood that does not have the best schools but is likely to improve in the near future.

Also, be on site to talk through all the renovations, and have a printed list of the improvements you performed.  

Single-family home sales staged a second consecutive monthly increase, rising 1.5 percent with units 9,226 sold versus 9,086 in September 2020.

You can try to influence it by improving your unit(s) on the edge of a higher priced area and catch some overflow, but that's very hard to do in the middle of an area.2) HOA's typically only take care of external maintenance.

Do a cash-out refinance on the original mortgage after improvements 3.