Originally posted by @Larry T.

Save yourself the stress / possible future agony and do it to code."4) Lastly, if you start making alterations, I don't advise using Duct Tape.

I know it can`t be counted as income, as it does not affect the cash flow.

One huge benefit I've found to chess is that when I am playing all the worries and stress of the deals or family or whatever disappear.

The worry is that an MMJ tenant is not crossing their I's and dotting their T's.

(Always check your state laws regarding the eviction process and termination of tenancy)In Michigan we must serve a Termination of Tenancy (on a M-T-M Lease Agreement) with a FULL 30 day notice. 

I am looking at a project that is  a historic building that sits in an Acre and is 8700sf . very walkable to lots of amenities,restaurants,grocery, schools, government offices e t c.in the past i have remodeled SFH ,renovated industrial builings to retail centers (sizes up to 15000sf)Project Scope: i am thinking retrofiting and add an addition and have aprox 32 units of apartments with elevator, and finishes stainles appliances,granite tops, study says that target tenants are milenials,retiress and due to proximity to government offices government employees.current rents go for 1bed 900-1000 and for 2 bd 1100-1200  . the sf need for 1 bed is 800sf ( should be able to rent according to the study for $1200)and for the 2 bed is 1200sf( should be able to rent according to the study for $1400)for this area.14  1 bed x $1000 =$14000 x12=$168,000. year18   2bed x $1200 =$21600x12=$259,000 yeartotal yeqarly income $427,000.00 -8%$34,160)vacancy (study says 3% for this area)=$392,840.00 yerly gross income.using current rents for fast stabilization as the goal is a non recource loan.i have couple questions that i would greately apreciate your input. 1)is it worth going after tax credits and how do i find more information?

I am looking at a project that is a historic building that sits in an Acre and is 8700sf . very walkable to lots of amenities,restaurants,grocery, schools, government offices e t c.in the past i have remodeled SFH ,renovated industrial builings to retail centers (sizes up to 15000sf)Project Scope: i am thinking retrofiting and add an addition and have aprox 32 units of apartments with elevator, and finishes stainles appliances,granite tops, study says that target tenants are milenials,retiress and due to proximity to government offices government employees.current rents go for 1bed 900-1000 and for 2 bd 1100-1200 . the sf need for 1 bed is 800sf ( should be able to rent according to the study for $1200)and for the 2 bed is 1200sf( should be able to rent according to the study for $1400)for this area.14 1 bed x $1000 =$14000 x12=$168,000. year18 2bed x $1200 =$21600x12=$259,000 yeartotal yeqarly income $427,000.00 -8%$34,160)vacancy (study says 3% for this area)=$392,840.00 yerly gross income.using current rents for fast stabilization as the goal is a non recource loan.i have couple questions that i would greately apreciate your input. 1)is it worth going after tax credits and how do i find more information?

Pete T.

The construction business is a great one...it can be exciting and fun, yet heart-breaking and stressful all at the same time.