The property is generating rental income from tenants after initial cosmetic repairs, providing cash flow while I work on plans for the ADU and broader development.

So I initially contacted him thru email. 

Here are my answers to your questions. 1) Initially we were wanting to make the basement a separate STR.

The IRR is assuming there was an initial investment amount, some cash flow each year, and then a sale of the property in the year indicated.Traditional SFR rental using 20% downBRRRR using 75% LTV loanObservations:1.

Initial set up was pretty easy.

You might be able to manage without a CPA initially.

The home was initially purchased by Seattle company Northlake Capital & Development, owned by James Thorpe.

*My Grandma also pays the property taxes; I really have no knowledge of what's going on here with this property outside of people living there rent-free.Next Steps: What are the typical steps involved in initiating a partition action?

Investing as an LP in a non DST investment like a standard syndication offers less fees, more options, great Sponsors, 1031 exchanges, QOZ's, Funds, every asset class etc...  1031's are limited, though especially for your initial investment.

Some realtors are open to this arrangement if it’s part of the initial contract.4.