- Highly recommend REQUIRING tenants to get Renters Insurance and adding you, as the landlord, as additionally insured.

The 2-3% points in extra cost are worth it if you plan on using as I described above because the use would be for a few  months at most and due to that short term use you can survive a rate adjustment up.But, if you have no plan to payoff the debt like when using for a down payment on a long term hold why pay the extra cost for flexibility and have the additional risk of the adjustable rate with the amortization looming when you can get a fixed rate second mortgage. 

In southern CA, even garage conversion ADU additions are typically costing more than the value added.  

While BRRRR works for scaling, explore turnkey rentals or creative financing in cash flow-heavy markets to accelerate growth.This post does not create a CPA-Client relationship.

Real estate investing has been a passion of mine for time with my mother also having invested early on where I likely have gotten the love and desire to follow similar foot steps.I have taken last 6 months to educate myself and currently own a single family home as primary residence and would like to expand to multi family properties (2-4 units) for additional stream of income, not to mention potential tax benefits for long-term investing.Based on current living situation, I have a fair amount of equity established in my primary residency along with having enough cash to either pay off house completely or use towards investing in a multi family property.Given that I'm the sole source of income for our household with my wife being the home maker for our two kids under 2, trying to weigh out risks with getting started now or perhaps waiting. 

Charging an additional 15% seems a little ridiculous.

@Kleyn LopezI have referrals in the San Diego area if you are in need of additional CPA recommendations.

OF COURSE the Contractor is going to say you need to tear it all out and rebuild the wall(s)  because that's the absolute easiest solution and adds additional work for him.

Since then I've bought two apartment complexes and will be building additional units on them using knowledge  and processes learned for Jerome and his colleagues.

If the interest rate is still a barrier, you could explore adjusting your deal structure or negotiating with the seller to see if there is any flexibility on the price or terms to make the deal more attractive for buyers.Overall, while the interest rate may make it more challenging, it’s not impossible to work through.