Also, working with hard money taught me the importance of staying well ahead of draw schedules and contractor timelines.

Thanks for the detailed update  and I really appreciate your openness.Wow… it actually sounds like you were on top of things  getting the stamped plans, staying in communication with the city, and chasing down issues.

Not to be a debby downer here but I don't think this will end up penciling to operate on PadSplit (typically longer term stays.. 6 months+.. so lower room rates/revenues).

Better to pay cash for rehab or wrap into hard-money draw?

2) I bet you could draw that same or even more extreme graph for new car prices.

But to stay in compliance with NYC Department of Buildings (DOB) rules, every detail must be handled precisely.Let’s walk through how it works under DOB’s Technical Policy and Procedure Notice #3/97 (TPPN 3/97), and why having the right professionals on your team is key.C of O Not Required—When You Follow TPPN 3/97TPPN 3/97 allows apartments in multi-family buildings to be legally combined—without triggering a C of O update—if:The overall number of primary living spaces (such as bedrooms, living rooms, dens, etc.) stays the same or decreasesYou don’t alter building egress (staircases, corridors, exits)The work is limited to interior constructionThis provision applies to all multiple dwellings in NYC, including old law, new law, converted, and new code buildings.What You’ll Need to FileArchitectural Drawings from a Registered Architect (RA) or Professional Engineer (PE)Alteration GC Application for general construction items like partition changes or internal stairsAlteration PL Application for plumbing work—particularly when repurposing or capping kitchen fixturesLetter of Completion issued by DOB when the work is signed off, confirming no new or amended C of O is neededTPPN 3/97 Requirements—SimplifiedSame or Adjacent Floors Only: Combinations are limited to apartments located on the same level or directly above/below each other.

Since your in a state that does not require a license to lend I dont know why there would be a banking issue.. but for sure stay away from the big box banks they are no help to a private lender.. 

We’ve worked with folks doing something similar in Boise, where certain pockets near hospitals or tech corridors draw steady interest — but only if pricing and bedroom access is structured the right way.If it helps, happy to share what we've seen work or not work in other markets — feel free to DM anytime!

Maybe anonymous or semi-anonymous from hosts they know the guest stayed at to prevent retaliation.

And yeah, taxes in areas like Kyle and San Marcos can be brutal, especially when you're trying to stay under budget and set yourself up for rental income.Out of curiosity — what draws you most to Airbnb?