The good thing about househacking a legal multifamily unit is that lender allows you to use the vacated units of 75% market rent as an income to offset the potential current mortgage.

Quote from @Corey Gelineau: The inspection contingency is used to legally back out of a contract due to the property being in an unacceptable condition upon inspecting the property.

From what I'm reading here, and we immediately sought legal counsel on this, they're totally free to move out anytime they want.

An LLC does not provide much legal protection, it acts as a legal firewall to separate assets.

A non conforming unit is technically legal but it doesn’t meet current zoning (but possibly was once a legally functioning unit as a residence).

Regarding number one, while it may or may not be legally necessary (not sure), I think it's a good idea to have a separate account for each entity.

Generally there is consensus that DSCR Lenders can only offer a 1% prepayment penalty for up to 3 years in MI, but some lenders have recently reportedly been flaunting this rule - I would just tread carefully here in this area, generally not advisable to get potentially tangled up in a flawed legal doc with a non-sophisticated or fly by night lender

Let me check our guidelines on our physician loan and get back to you!

It makes ADUs under 900 sq. ft. in SF zones legal BY RIGHT, statewide, starting in February.

After reviewing the latest ordinances, reports, and city guidelines, here’s a summary of my findings as of 11/18/2024:Key FindingsPermit Types and Fees:Type 1 (Owner-Occupied): $300 for 3 years.Type 2 (Non-Owner-Occupied): $450 for 3 years.Density caps apply to Type 2 permits (12.5% of block face).Enforcement:3 violations in 3 years lead to permit revocation.Fines up to $500/day for violations.Hotel Occupancy Tax (HOT):City: 9%, County: 1.75%, State: 6%.Platforms like Airbnb and VRBO will remit directly to the city starting Feb 2025.Platform Obligations:STRs must have valid permits; unpermitted properties will be removed by platforms like Airbnb.Special Exceptions for Density Limits:Require approval by the Board of Adjustment (BOA).Zip Code BreakdownI focused on these 11 zip codes:Under San Antonio Rules:78205, 78204, 78215, 78210, 78212, 78245, 78258Independent Municipalities (Separate Rules):Alamo Heights (78209)Leon Valley (78238)Helotes (78023)Next Steps:Research density caps and zoning in specific zip codes.Dive into independent municipality rules for Alamo Heights, Leon Valley, and Helotes.Evaluate market maturity and income potential using tools like AirDNA.If anyone has experience operating STRs in San Antonio or these specific zip codes, I’d love to hear your insights, especially about density limits, enforcement trends, or community sentiment.Thanks in advance!