HI There;There are two properties built in 1894 located in South Orange, New Jersey. 

@Rae Chris Ann Arbor is pretty expensive, so difficult to find cashflowing rentals.You may want to look in Ypsilanti - if you want to stay in your area.Otherwise, Metro Detroit offers a LOT of options.Read our copy & paste below for some helpful info:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The cost of a virtual office typically starts at around €120 per month, depending on the location, making it an affordable and professional option for entrepreneurs.If you're interested, here are some reliable companies offering this service in Spain:Regus: www.regus.comWeWork: www.wework.comSpaces: www.spacesworks.comUtopicus: www.utopicus.esMyOffice: www.myoffice.esFor me, Regus is one of the best options due to its reputation and quality of service.

JWB spent $2,300 on renovations prior to you moving into the home. 

I would do all of those prior to giving up 50% upside on a physical RE investment to someone who has little risk, and is offering their time.

@Sakib KhanRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

Like mentioned it's also beneficial to keep up to date with what's happening in the area your STR is located, and make sure the decision makers are aware of hosts and what they bring to the community.

As you've mentioned, great schools, area in general is nice and it's centrally located.

We are General Contractors and part of why my cost for the conversion is so low is because we have the resources to pay at cost and the property is located in a county with lower labor costs than other parts of California.

I bought the main house as a fixer upper and forced a modest amount of equity prior to the construction of the ADU, I did not incur a negative equity position.