Despite recent challenges, Los Angeles continues to outperform the broader Western region, which had a higher vacancy rate of 11.9% and lower average asking rent of $178 per unit in Q1 2024.Asking and Effective RentAsking rents in Los Angeles decreased marginally by 0.5% in Q1 2024 to $234 per unit, following a more substantial 2.8% decline in Q4 2023.

This can help offset your mortgage and other expenses.Single-Family Home: If you choose a single-family home, you may have the option to rent out rooms or a separate unit if there's space, but the income potential might be lower compared to a duplex.Affordability:Duplex: Financing a duplex might be more challenging, but the rental income can assist with affordability.Single-Family Home: Single-family homes might be more accessible for first-time buyers, but you won't have rental income to offset expenses unless you choose to rent out a portion of the property.Property Management:Duplex: Managing a duplex involves dealing with multiple tenants and units, which can be more time-consuming than managing a single-family home.Single-Family Home: Managing a single-family home is typically simpler since there's only one tenant.Privacy:Duplex: Living in a duplex means you'll share a building with tenants, which could impact your privacy.Single-Family Home: Offers more privacy as you won't be sharing the property with renters.Market Conditions:Duplex: In some markets, duplexes may offer better appreciation potential and cash flow due to the rental income.Single-Family Home: Depending on the location, single-family homes may have better long-term appreciation potential.Long-Term Plans:Duplex: If your goal is to accumulate rental properties, starting with a duplex can be a good way to get into real estate investing.Single-Family Home: If you prioritize a more traditional living arrangement and don't want to manage rental units, a single-family home might be a better fit.

Maybe a more cunning way to move forward would be to own a motel, maybe with a very experienced motel business partner.Or maybe a Pool Hall, or an LP in a new waterpark, or something like that.I've seen hard times crush men, and I've seen hard times make men refused to be crushed and come back X a ton.It's all in the mind and the will to keep fighting.Many in here have given possible ways forward.It would seem wise to focus on building up a pile of cash again.Talk to your tax consultant about the specifics of your situation too.....Good Luck!

On the flip side, do you think the stability/predictability of the Dayton market could be a positive thing for someone like me to gain some experience and then branch out to a more competitive market like Columbus?

That will help keep occupancy at a more consistent level in that 70 to 75% level to make the returns much more predictable.As a builder, I'll be looking to build only the smaller cabins (1 or 2 bedrooms at 1,000 to 1,400 sq ft) because they seem to still be selling.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

I guess I could call him, but I feel like I need to do a little more research first in order to have a more informed conversation.

Those who do not understand this or are afraid of risk have a more challenging path (but can still succeed with enough effort). 

If you're looking to place some capital in retail assets, I am happy to schedule some time to have a more detailed discussion about your needs or net leased assets in general. 

Each option has its pros and cons, and I'm hoping to get some insights from this community to make a more informed decision.Option 1: Building an ADUPros:Increased Property Value: An ADU can significantly increase the value of my primary residence.Control and Proximity: I can closely manage and maintain the property since it's on my land.Potential for Higher Rent: ADUs in bay area can fetch a good rental price.Flexible Use: ADUs can serve multiple purposes – home office, guest house, or rental unit.No Additional Land Purchase: Utilizing existing property means no extra cost for land acquisition.Foundation improvements: I will get an upgrade for my foundation which increase house stability.