One other thing that people in their 60s can consider is - if you are planning on taking Social Security and making passive income part of what you live on, rental income may not count as income against your Social Security benefits.

I plan on purchasing a home WITH the help of my Japanese boyfriend.

It has a full studio casita out back that will be an LTR.I plan on buying 3 or 4 investment properties this year after I learn more on the co-living marketing and rent collection side of things.

I am serving her a notice to vacate at the end of her lease in feb. 

My plan would be to keep the front waiting room as a small commercial space and the back offices as efficiency units or studios. 

Liquidity is important if this is money you plan to put to work in the near term. 

Ordinarily those tenant vacated damages would be too remote, but it sounds like they were contemplated by both parties at the time of contract.Were I in this situation I would be looking to state law to determine if the EMD is truly the extent of my potential liability as a buyer. 

By then I expect to have a clear plan so I can move into action.

I think the ultimate situation for what I described above (not the plan, but a possible outcome) could look like this:Rent main house by the rooms while constructing ADU.

I have one floor plan in my project that is set up for this.. out of 90 homes we have built  we only sold 4 of them .