I would first check if STRs are allowed in the areas you're considering.

Anything past that might feel weird.Good job going to your first one, that is a great step that too many people miss out on.

We had to save up the 5% to get our first place with an 80/15 first and second mortgage.  

Share your wisdom with the less-experienced users.Always remember this is a forum for learning, first and foremost.

Quote from @Nicole Heasley Beitenman: I'm coming up on my first year of operating an MTR.

I recently completed one on a multifamily property and found it to be a cost-effective approach.That said, there are a couple of additional factors to consider beyond the code differences between a garage conversion and new construction:Coastal Overlay Zones – If your property is in a coastal overlay, building a ground-up ADU may require Coastal Commission review, which can add time and complexity to the process.

Jung,Welcome to the BP forum its a great time to start as mortgage rates fall and home prices still priced well in many states.

Quote from @Chan Park: The first leak was allegedly due to bad caulk.

You can create a trust to pay you out $5000 a month for a 39 month period of time.

Are you full time in real estate?