(In California - to property manage rentals above 30 days, we would need to have a brokers license)We have gotten some requests from guests for stays above 30 days (usually 2-3 months).

Ill turn 30 in a few months so I guess i'm a millennial. 

We let our tenants pick their due dates and also if they would like to split their payments within the month. 

Think of home ownership without mortgage burdens as a way of making extra money through rent payments every month.

Aside from that, you'll need to pay management fees each month which cuts into your profit.

In terms of the math, let's look at return from rental income and return for equity:For each item, calculate a year's return, and there's your approximate ROIFor the ADU conversion: ($4000/month x 12 months)/$500,000 cost = $48,000/$500,000 = 9.6%That's before expenses, which will cut that number down by several points.

Additionally, her house is cluttered and the floors hadn’t been vacuumed or swept in months, so I  am suspicious about her claims of tripping safety and splinters.Questions:- Are her concerns valid complaints?

@Albert Yamoah, I became a basic member of LU about a month an a half ago.My experience is this.

Fast forward to today and we are in the main house, and I was able to take a HELOC out and buy an investment property, and with my tenants in place we are paying below $2K/month to live in a 3 bed house with a nice backyard.Your team (Realtor and Lender) should be able to walk you through the process.

And when I wanted some extra monthly income, I brought in roommates and learned about leases.