@Tim Holt Come February, it's legal to create an ADU by-right on any single family property in the entire state.

@Devan Praska I do not have a manual for my tenants but have created a manual for each of my properties in the event that something might happen to me and someone else would have to take over the management of them.

It can also create a lease for y'all to use.

However, unless you're doing this as part of a BRRRR strategy, you may end up paying closing costs twice and incurring unnecessary interest on the HELOC prior to refinancing.Additionally, conventional loans often have seasoning requirements of 6-12 months, while DSCR loans typically require only 3-6 months.This post does not create a CPA-Client relationship.

*This post does not create a CPA-client relationship.

Be aware that 5 levels of membership can create divisions within the ownership group because the same investment at any point in time can behave differently for each class of investor, so motivations may not be aligned. 

For wholesalers: How are you adapting to buyer preferences or creating irresistible deals despite tighter margins?

Purchase price: $630,000 Cash invested: $120,000 Completely gutted this property, brand new electrical, furnace, propane, finished basement to create separate unit.New garage with rental unit.

Just want to start setting up as if it were. so far i have thought about creating 7 accounts.1) all rental income account 2) account where common utilities and mortgage will be billed3)maintence/capex expenses4)vacancy expense5)management expense (to put the units up for rent)6) property taxes 7)cashflow am i missing anything? 

Be prepared to spend a lot of money creating the infrastructure.