Returning Newbie Chugging Along In Need of Advice on 2 Properties

[Robin Thornton]

Hello BP!  

I am a longtime newbie finally taking action.  Yay me!

Property #1 - I have a semi-detached SFH in Baltimore, Maryland that will be ready for a tenant by May 1st or sooner. I live out of state. The neighbor who is attached is the one and only eye sore on the block. Every window has broken blinds. The once pretty red front door now has children's stickers all over it. They never cut the grass. Despite having a backyard, they sometimes let their 2 small dogs out the front door and do their business on my lawn which was green before they moved in. They always have overflowing trashcans in the backyard and alley. And when I am not there, they park on my property (paved double parking pad). I have a sign posted that says private property, no parking. I am always nice to them when I am at the property. I offered to have their grass cut once and they said yes so I did. Although I think it was a one time thing, one of the tenants almost relieved herself on my front lawn. I could go on and on. I already spoke to the tenants in a nurturing way more than once about how their overflowing trash and not cutting the lawn can bring rats. Another neighbor told me she offered them an additional trashcan but they refused. One of the tenants even told me they had to pay for violations in the past for the lawn and trash. What can I do? As far as parking on my property, I was thinking of getting a towing company involved. Any suggestions on what I can do before its time for my property to be shown to prospects? Also, I am still looking for a PM if anyone has any recommendations.

Property #2 - I want to build an ADU on my primary residence in Florida and am thinking I should use a HELOC. Should I get my other property rented out first before applying? Does it matter? Is there ever a time when an ADU does not make sense? Although I don't make very much from my W2, I've been there for 10 years, I have 2+ years worth of emergency funds, and excellent credit. Should I be searching for a GC or a builder or are they the same? When should I and how do I get started on this process?

I would appreciate any feedback.  Please and thank you BP!  

Robin

[Jay Thomas]

For the Baltimore property, take pictures of problems like trash and parking issues, and talk to the neighbor's landlord or report the issues to the city. Also, think about hiring a property manager.Regarding the Florida ADU,Using a HELOC can be an option, but speak with a financial advisor to ensure it aligns with your financial goals and risk tolerance. Renting the Baltimore property first might provide some additional cash flow to support the ADU project. However, both options have their merits. ADUs don't always make sense. Factors like zoning regulations, property size, and potential impact on your primary residence need to be considered.
The ADU process can take time. Begin researching regulations, financing options, and potential GCs well in advance.