If not, they may consider building the ADU and down-sizing into it and renting out the main house.

During a recent conversation, the following question came up:------------------------------------------------------------------------"The question is:You buy a 'new build' house.

.- Build Relationships with Vendors: Getting quotes from local contractors or vendors for common maintenance or repair tasks can give you a clearer picture of recurring costs.

Originally posted by @Ethan Cooke:@Nick Kraska - It really depends on how much you want to get involved in building a team/network, minor maintenance while you're there, etc.

Demoed the house, will be building a new house on site.

Just want to mention that sometimes it works out better to raze an existing property down to like 2 studs and rebuild around it so that it still is classified as a remodel versus a complete new build. 

Purchase price: $1,500,000 Cash invested: $35,000 4-Unit building in Wicker Park, Chicago. 3-unit front building with a duplex up and a back brick coach house.

Building a trusted team is key, so starting that process as you actively search for your market will put you in a strong position moving forward.

At the end of the day; you need more money to do something like this.MAX LTV on new builds is 80% LTC, Meaning if the build is $550,000 and Land is XAdd ($550,000 + x ) * .8 = LOAN AMOUNTYou would need to come in with MINIMUM 20% of the cost in addition to closing costs and reserves, $80,000 is not going to cut it for this project.

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.