If not, you'll want to be sure to factor that into your total costs and check your ROI or Cash-on-Cash return in light of that.Go get it!

We have done light reno on two of the four units.

If I had my license, I would tread lightly- but push them back to their agent gently.

It is likely too late at this point, but for future reference, it would be much better to lose the popcorn ceilings and do a smooth skim coat or even a light texture on the drywall for the ceilings.I'm not a fan of the yellowish looking paint (although it may be nicer in person than on screen/photos) and the two colors in the bedroom don't flow well.

White ceilings, remove any popcorn if any and can do the walls a light tan color

My comment was based on a quick google search where there was a link to info regarding HomePath mortgage financing which stated that it was a program that was closed in 2014 that was put in place for Fannie Mae properties that required light to moderate rehabs, Where the loan covered both the purchase and the renovation.

It is also quite light and can be easily mounted without altering the exterior of your building.  

Biggest downsides are low ceilings, that it’s a basement (fine light for a basement), and no outdoor space.

If you've done it before (specially in the Bay Area), please shed some light on detail cost and time line please.Now, I think I have 3 options:1) Originally plan: split into 2 lots,  - remodel front house to build a big house (~3000 sqft) for front lot   - build new one (~3000-3500 sqft) in back lot2) Split into 2 lots (same as option 1): - build a smaller house (~1800-2200 sqft); build an ADU ~700 sqft for front lot - build 3 townhouses in the back lot ranging from 1500-2000 sqft3) Keep the whole lot, build 5 town houses ranging from 1700-2200 sqft I'm leaning toward option 2 for a couple of reasons:- Quicker turn around: much quicker to get plans drawn up & get building permits for- Can split into 2 phases: front lot, back lot- Lower cost for phase one (front lot) - Easier to sell- If I want to hold it instead of sell, 2 types of properties (SFH & town houses) is probably more preferable than just 5 town houses.Opinion, advice are welcome please!

To my surprise, the tenants would often come up with something I didn't think of such as "We would add a ceiling fan to the master, or upgrade the outside lighting".