Thank you for taking the time to read this post, have a wonderful rest of your day😊.

The investment is a little bit more upfront since you'll have to furnish the room and bathroom fully, but you may be able to command a higher rent each month since you're covering all utilities, WIFI, and providing all the furnishings.Either way, renting out the room is a great idea and I'm sure it will be helpful so you can rest a little bit easier while you save to move to Lakeview, eventually :)

I am thinking about taking a $10k loan against my 401k to get a little caught up and hopefully use the rest to invest.

I FOUND THIS DEAL THROUGH WORD OF MOUTH I WAS TELLING DIFFERENT PEOPLE IN MY CIRCLE I WAS READY TO BUY AND LONG BEHOLD A BUDDY OF MINES WHO IS A REALTOR PRESENTED ME THE DEAL AND LET ME MEET THE OWNER WE HAD A GREAT CONVERSATION AS HE TOURED THE PROPERTY WITH ME HE EXPLAINED HE HAD HIGHER OFFERS BUT BECAUSE HE SEE IM A YOUNG GUY DOING THE RIGHT THING HE REALLY WANTED TO SELL IT TO ME AND THE REST IS HISTORY !

Quote from @Jack Vu: Hello @Karen Margrave and the rest of the Redding area investors! 

ON I know has a tax for foreign buyers, but I don't know about the rest (I have properties in BC and AB so am more familiar with those areas). 

Rates that are too low relative to the rest of the market are a red flag.Agreed granted many of the HML have a sliding rate scale based on  ARV  and experience  and maybe a little fico in there. lowest I have personally seen was 7% and 2 points.. and of course junk fees.  

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

We used one of our existing local lenders to provide the majority of the purchase, and the rest was provided from our investors.

For the rest, I scraped together savings and maybe skipped a few Starbucks runs (okay, a lot).