On my multi-unit, some are at market rate (new tenants moved in), some close to it and the remaining two are low from long term tenants.

You have to remain competitive when starting out because your goal is to grow your business.

I hired someone else to work on the project, and I am okay with paying him in full and just moving on to the next project.I have already paid him ~300k, and ~40k of the last payment is remaining.

Once you rebuilt the ADU, you would be paid the remaining $30,000

In fact, nothing was ever done.To make matters worse, I have another Fund That Flip deal that has gone south with little hope to recoup that investment as well.The loan was made in June 2018 and they stopped paying a year before Covid started and this is their latest comments:The developer remains non-responsive to Fund That Flip’s communication attempts to discuss foreclosure alternatives.Foreclosure counsel is waiting on the court to schedule a hearing date for the judge to rule on our motion for default judgment.Fund That Flip continues to work towards re-establishing contact with the developer and their known colleagues to discuss a successful exit.

What would happen if I bought a house and moved in, rented the rooms out, then quit my job a few weeks later and used my self employment income to cover remaining mortgage payments and my bills?

Draw schedule to be agreed upon prior to closing.Term: 1 YearFee to Lender: 2.5 points – ($13,125 paid at closing from loan proceeds).Interest Rate: 11.5% Interest-Only billed monthly on outstanding balance.Interest Reserve: $15,000 – approximately 6 months interest, paid at closing from loan proceeds.Once interest reserves are depleted, borrower to make interest-only payments monthly.Pre-Payment Penalty: Should loan be paid off prior to interest reserve funds being depleted, a pre-payment penalty will be charged equal to the amount remaining in interest reserves at time of payoff.Loan 2: Loan amount 490,530.60Lender Points: 3%broker points: 1%rate: 11.99%Term: 12 months (interest only)Prepayment penalty: NoneProcessing fee needs to be wired before LOI can be issued

I remain professional throughout all conversations tenant later said that the room and closet is flooding.

I'ts buying a multi family property as owner occupant and getting rent on the remaining units.It's lower down payment since you are owner occupant and lower rates too.Easy way to get started.Feel free to PM me with any questions.

How many years are remaining?