@Chris Sonnleitner welcome to BP.One thing to think about regarding Plumbing Electric and HVAC is when you sell a flip the buyers agent is likely to ask if you pulled all the appropriate permits.

Purchase price: $120,000 Cash invested: $160,000 Sale price: $489,000 Major renovation and 1,200 S.f addition on quarter acre, corner hillside site.Original house was a 1970 stucco bungelow 2bdr/2baEnd result was a 4bdr/4ba custom architectural home including a single common wall self contained 400s.f. permitted, rentable guest house.New 2-car garage with workshop and new full RV hook-ups What made you interested in investing in this type of deal?

The city now has a permit process for STRs. 

I also plan to do most of the rehabbing myself, at least where law permits me to.I was originally looking into a $100,000 HELOC, but I didn't qualify since that property is no longer my primary. 

I appreciate any advice you can share.First thing is make sure you do not close on the property until you get all of the approvals and permits.

Nobody is in the actual office thanks to Covid and we received several conflicting answers regarding having a third unit permitted in an area of Denver zoned E-MX-2.  

Comps have to be determined, banking, deed issues, permits open or not, capex spent, zoning acceptance.

Make sure everyone involved has recent experience with DADUs in your local market, the permits and zoning laws may have changed recently.

When I was done with the renovation and had the permits I just needed something to get it listed, my attention to detail was not great.

I see it the other way around, I think once everything starts opening back up people are going to go crazy with vacations, and "getting away"In places like Nashville, I think two things are going to happen1- The investors that bought STRs that only make sense as STRs are going to sell their properties and some are going to switch to LTRs and probably some permits will be lost 2-Prices are going to go up as many will lose permits that can't be reclaimed/renewed.