Every tenant needs security for their private roomYou may get additional rent but you can also have additional work (dealing with more frequent turnover, common area cleaning/maintenance).

@Thomas S.I agree with your thoughts on not fixing what’s broke, but I think there’s some real opportunity for some forced appreciation in addition to increased rent if I can boost the curb appeal.$15,000 is probably a bit overboard, but I can do most labor myself, so $15,000 worth of work may in reality cost me half or a third of that in materials cost.

Using the VA loan gets you started with very minimal out of pocket (Just because it is $0 for the down payment on a VA loan doesn't mean the property is free lol).

These are professionals with additional training and a stricter code of ethics.

Considering that you could probably purchase $800k-$1MM property with the equity you have, it's important to get clear on what you want to achieve.Out-of-state multi-family is probably the best bet for maximizing returns and minimizing costs.

If the number is negative, you add it to your liabilities.

I'll need plenty of additional information, but I suspect this place would be a quality exercise and/or a worthwhile thread for the community if we did it right.

Given that it's much faster, easier, and cheaper to foreclose here in Georgia than in New York, I can somewhat appreciate her attorney's concern.I see two ways to minimize her exposure:Shorten the Finance Term - If you're really doing a quick renovation, 12 months is serious overkill.

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Many towns have rent control in addition to the state laws.