Pearson Caldwell
What constitutes separate apartments?
I am in the process of buying a home. The home is currently zoned as a two-family, but it has three stories with three separate apartments. The second and third floor share utilities, with the second floor covering ut...
David U.
Evaluating between two options
Hi everyone, I'm trying evaluate between two options. I currently have to apartments that I rent out. Both are owned without any debt. One is STR and one is LTR. After all fees, taxes, management and cleaning, i have ...
Ben Kindle
Three Unit House Hack Insurance Complications
Hello,I have a relatively complicated situation (this is my first property) that I am looking for some guidance on - any guidance you can offer would be much appreciated!The situation:- I am under contract at $265K f...
Chris Miller
203k Contractor Recommendations in Philadelphia
Hi Everyone, First time poster here so I appreciate any responses!!!I'm under contract on a mixed use property zoned CMX3 in the Spruce Hill area of West Philadelphia. I'm purchasing the property using an FHA 203k l...
David Moore
Should I lease to 3 individuals when 1 doesn't qualify?
I've received an application from 3 individuals who live together. The first two are a couple with a baby and would qualify for the home individually (each income separately is more than 3x monthly rent, etc.). The...
Peter Mckernan
LLC and Funding
Hello everyone,I have been searching for the answer to this question through many different sources. I spoke with a lawyer today that gave me some insight, but did not have an exact answer for this question. I have al...
Kraig Kujawa
My Triplex is Zoned R2. How can I make it right?
Hey there,Long story short, I purchased a triplex in Mount Dora, FL. Unit 1 has its own meters, Unit 2/2.5 do not. I didn't realize the third unit had not been permitted and is in R-2, not R-3. Dumb mistake. Someone r...
Derek Persuit
Refinance with Mortgages already in name
Hey Everyone,I've recently been looking into the Refi part of BRRRR strategy on a property of my properties.I have talked to only one bank so far, a credit union. I have 2 other mortgages and they informed me that the...
Austin Hanse
Turning Basement into Rental Unit
Does anyone have experience with turning a basement into a rental unit? What are the challenges/obstacles in doing so?My current situation is that I have a seller who countered me and the price they are asking would m...
Hayden Schaefer
First House Hack Motivations
Greetings, I and a friend live in the NoVa area right outside of DC. We have a desire to dive in and buy a property together, yet we have enough of a downpayment for only 3 percent between the two of us. However, we h...