Living (temporarily) on property while renting the main house

[Mike Hasson]

I'm so excited to finally be ready to turn my first home purchase into a rental (San Bernardino, CA), but now I have the dilemma of needing to find a myself new place to live while holding this one.

I'm okay with leaving my comfort zone to break into the next level, so I had this crazy idea to build a tiny home or ADU in the back, but the numbers just didn't make sense - until I discovered the park model mobile home, basically a manufactured home that stays on it's wheels instead of getting placed onto a foundation. I can safely park it in the back, easily connect it with full hookups, and live in while I A) start generating the rental revenue B) free up more of my earned income for further investing and C) look for my next deal

> So my question is, how can this be structured into a lease where I'm renting out the main house but still able to reside on the property? It's a technically a temporary structure so I can't make it a separate unit, and the area would be separated by a fence for privacy. I don't want to find myself "trespassing" or something on my own property lol

Some random pictures of park models from the internet. 

I was surprised how clean they look with just some siding or trellis around the bottom. Mine will have better stairs though lol

PROS:

Fast, no permits needed for temporary structures, inexpensive at nearly half of the cost of the cheapest permanent ADU, can take it with me to my next property so I don't have to live in a construction zone, additional options for financing using an auto loan or RV loan (my original plan was to use fund most of it using heloc or cash out refi, which may still be better but having more options is great)

CONS:

Transportation costs $3-4K, RV hookups cost $??, doesn't add property value, will depreciate over time, potentially higher interest rate than residential loan