Also to make it legal, you need to make sure you have sufficient egress, fire separation between upstairs and downstairs and technically you need entirely separate mechanical/plumbing/electrical systems.

Maybe, this would be considered a distribution of property from the LLC which would cause a taxable gain should the llc not have sufficient basis to take from.For #3 and for all of your questions really, there can be a lot of hidden complexities depending on your exact situation.

The loan amount is sufficient for me, as I am not looking to borrow more than necessary anyway at current rates (7.35% seems to be cutting edge right now). 

With a strong interest in the field, I’m here to dive deep into real estate investment, aiming to grow and learn from this community’s vast experiences.Currently residing in the Bay Area, I’m fascinated by the dynamism of our local market but am equally interested in exploring investment opportunities beyond, including other cities and states.

As you start interviewing you will see that there are vast differences and you will learn from them.

So we look for sufficient capital reserves to be sure people stay out of lawsuits. 

Micah Markowitz , cash advance is not a sufficient way to withdraw $50-$10k from CC's.

And on the other extreme, a hard money loan would be overkill, likely requiring vastly more than 25% down to boot.Between those two extremes sits bridge financing.

I disagree with @Jonathan Greene especially since the vast majority of agents in my experience are part time.

@Patience Echem You're already in a prime market for investing, and with $300K in cash, the possibilities are vast.