You need to make sure that your property is easily financeable if you decide to sell it in the future and any future buyer can call out non-permitted items and actually report you to the building department or, at a minimum, ask for seller concessions.

Actual Cost to Build: For those who have built ADUs in LA, what were the actual costs you encountered?

After the 08 crash, I started buying rentals and built a portfolio of 80+ sfh's - all three bedroom homes in areas with good schools.My mistake was selling a bunch during covid.

Those two items will vary quite a bit depending on the house.

If you can hold on till first part of January the showings and everything else should pickup.This would be my action items: 1. hire a new agent that can sell the place, and get you numbers are rent and selling and sell the place. 2. be honest on the numbers you can get on an ARV so that you can sell it 3. start to get the conversation started with a couple lenders on what these numbers on refi would look like for you and this property 4. my suggestion would be to refi/rent before selling at a loss because if numbers work you can hold for a couple years then sell, but this is dependent on your cash position and liquidity of your situation. 

He further said it should NOT go to eating out or buying other items  and for sure should not be used to quit your job ( which is so popular mind set)Mr.

There’s a real opportunity to hit those $1,500 to $2,000 rent ranges, particularly for updated homes or new construction (built to rent homes) in the right neighborhoods.

No but if you paid for those items you could get copies of them and use them for a private lender who may be able to give you a loan.

Oil prices remain a huge X factor, and housing prices (at least with respect to rents) are being held back by the most supply EVER being built and coming online here in 2024.

In the cities the government got involved in housing and low income housing was built for poor people.