- The Skeptics Take.The Weekly 3: News, Data and Education to Keep You Informed- Elon Musk's AI company @xai is planning to build the most advanced supercomputer in the United States, in Memphis.

We lend at "the lesser of" cost vs As Completed Value, so we have you get your plans and specs together and then we give it to an appraiser that will appraise it "as completed".

Does that mean that 2 separate college students wouldn't be able to rent it because they pay separately therefore they are not a single family?

You'll also have to pay some depreciation recapture unless you do a 1031 exchange.So take that number and subtract what you owe on each of your mortgages and you'll be left with a net figure.

Picture below.My big plan is, make driving range, build some retail stores , bar & grill inside, generate more revenue.Build a big golf complex so it can build foot traffics. 

I plan on raising rent for upstairs unit from 750-1000.

Hey @Adriana McLaughlin - This is actually the FIRST TIME I have heard of the term "ALL-IN-ONE-FIRST-LIEN", but after doing a little bit of reading on it I am not sure I still completely understand.Basically, you apply for a HELOC credit payoff your existing mortgage with this variable HELOC and then in theory have some leftover as well...so the advantage is paying off your loan early and getting access to a line of credit, but the disadvantage would be a variable rate mortgage for the reminder due on your orginal first mortgage? 

Also if a tenant doesn't pay what happens?  

Do you recommend I just pay it? 

Your foresight and planning will serve you well in achieving your financial goals.