I liked the multiple exit strategies of a single family residence.

For projects with exit values between $500k and $1.5M here in LA, I like to see the purchase price plus rehab cost to be 75% of the exit value.

@Theo Z.A lot more information needed:- what kind and size of properties- where they are- who owns them- why was it set up this way- what is the exit strategyand more

Understanding your exit allows you to make all other decisions.

The main assumptions you should review are the rent growth trajectory, the occupancy and the exit cap rate.

Typically the stairs to the basement are less of an issue because there is commonly a 2nd exit to the basement for which the owner can use to get in furniture, fixtures, etc; however, if it is to a finished attic space, it may be of more value to really make the space feel more connected and usable.If you do decide to rebuild the stairs, there can be some difficulties making them meet code, and would likely cause an impact to the surrounding spaces.

Hard money lenders (at least in Columbus, Ohio) are going to want to see experience from their borrower, a scope of work, after rehab values, and an exit strategy before they lend to you.

To 360+ 36K financing + 4K closing = 400K all in for a project that you have 12 months to buy/rehab/rent/exit 2) Rent comps: 1bed/1bath isnt same as house vs condo vs garage apt vs hotel style house hack.

You may be paying that mortgage for 6-24 months without any income.3) Have a clearly defined exit strategy that can take place with a non-paying tenant in residence.Even with all of that, there is no telling if you'll survive.  

My investors seek rental income and willing to hold on for 5-6 years for an exit event.