Need guidance convert basement to another unit in multi-family
Hello everyone, I am a newbie to the forum but I have been following biggerpockets podcasts and reading their books for over a year now. In less than 2 years, I bought 5 rental properties with decent cash flow. I am planning to get my hands on the 2 unit multi-family. Unit#1 has 2 bed and 2 bath, unit#2 2 bed 1.5 bath. Both units have separate water, heater and electricity meters. Additionally, there is a basement with a kitchen and cabinets, 1 full bath, washer and dryer and a refrigerator. I am thinking of converting the basement to additional unit but I am facing problem with Zoning restriction from the village. It comes under R2 zoning which allows 2 units only. Also adding additional unit requires separate water, heater and electricity meters which requires village approval which requires zoning conversation (I assume).
I was hoping the creative minds in this forum share their thoughts and ideas, which will help to increase the cash flow and better ROI and COC.
Thanks,
Nazimuddin