Feel like there's more going on in ADU land.

If managing it yourself feels unsustainable in the long run, hiring a good property manager could give you more peace of mind.Since a 1031 exchange or like-kind replacement doesn’t seem to be a good fit for your current situation, you could consider a HELOC if you need to tap into the equity for other investments without selling the property, although rates are high so this would eat up your cash flow.

Together, the property nets us roughly $1,400/month after expenses.Equity Split: My partner owns 60%, and I own 40%.I'm exploring ways to take out my equity without disrupting this deal, as I feel this isn't the best financial decision for me right now.

I know this is going to be anticlimactic, but to be honest I am unsure how I feel about my purchase and don't know if I would do it again. 

Always happy to connect and share insights—feel free to reach out if you want to collaborate or discuss deals!

Hey Chandler, I'm delighted by your presence.. how do you feel about building a team of trusted contractors?

While I didn't like feeling I was in Time Square on the Canadian side of Niagara Falls, the New York side felt completely dead. 

Developing strong financial and business acumen is also crucial for success as an investor, so that’s another area where you could focus your efforts if getting a license doesn’t align with your plans.I’m here as a resource—feel free to reach out if there’s anything I can do to help!

Make sure the previous property management company did their job and communicated a change in management prior to you taking over--along with your contact information.If they have no done this, they should so the tenant doesn't feel like a scam may be going on.Just make sure they're away of where rent payments need to go and who they can contact in the future. 

And if it were set up where everything went through a title company so the buyer pays the title company, they manage the buyer's loan (from me), and the title company ensures my mortgage is paid without my direct involvement... what parts of the transaction would feel risky or not worth the headache to you?