Another option is to rent it out, take out a cash-out DSCR loan, and invest the cash in another investment.

However, if managing tenants isn’t something your parents want to deal with, selling after renovations could also provide a large profit.Feel free to reach out if you'd like help with running numbers or considering financing options if you go the ADU route → I’d be happy to help!

Very common scenario for sure, if it'd be helpful to look at some options feel free to reach out!

Start there and see what your options are.....don't panic yet!

I do not think options 1 and 2 are mutually exclusive, in fact I think you should do both. 

Not sure why people go for 40-year fully am instead of just traditional 30-year with 10-year IO option, I tend to think the 40 year term is more of a gimmick

One of those options is to let the tenant know you won't renew their lease, then offer them the opportunity to leave early if they find another rental.

I like the tub (it wasn't cheap, about 12 grand) but there's not great service options where I live and not sure if I would get it again since I mostly have to take care of it. 

With fluctuating interest rates, tighter lending criteria, and increased competition for properties, securing the right financing has become a key factor in closing deals and maximizing ROI.Are you exploring creative options like BRRRR, partnerships, or seller financing?

Hi Na, I'd love to hear more about your source if they're still able to do a 90% LTV DSCR.