The rates are $750 per room in 3 rooms, $700 per room in 2 basement room when they are finished, and I will be living in the master.I want to add 2 more bedroom as soon as possible, but I also want to do renovations in the kitchen, put hardwood floors, remove popcorn ceiling (asbestos), put in recessed lighting, new internal/external paint, remove a load bearing wall, and etc which a contractor said will cost around $80k (I think I can go IKEA kitchen and go cheap on other things and save $30-40k.

@Jaron Walling ok that makes sense.  

Even if you are not the one framing a wall, you need to know what is right and how much it should cost, or you could lose a lot of money very quickly.

YouTube Mark Kohler he is a CPA/Tax Attorney and has a number of videos on the many topics of tax savings.  

Furthermore, the backyard of this house slopes down into a ravine; however, that can be fixed with fill dirt, retaining walls and the proper drainage systems.  

The other side of the coin is that I'm leery of owning any place with connected walls, which is what I can afford in the Alexandria, Va.

Ironically I just finished editing a YouTube video on "Financial advice for young officers" that talks about real estate investing and house hacking.

Check out some of the BiggerPockets BRRRR videos on Youtube and David Greene's BRRRR book too.Best,Paul

If it's an interior chase you can use double walled flue piping a masonry chimney isnt needed with double walled "b" vent. 

Comcast and other providers let apartment owners buy internet/video in bulk so you can resell to tenants at or a little below retail.