Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

I download those into Geo Batchcode so I can plan an efficient route to check out those properties, and of course I take note of any others of interest that I see along the way.  

How do you plan to finance the ADU?

If you are planning on selling, contact a realtor to make sure you are getting a fair value for your house. 

Not that that is a bad thing as some are on lower comp plans but they are at the mercy of all having "overlays" and have to sell their loans.

Are you planning to rent the entire unit at the 2nd year mark? 

With out that, there is no proof that it will perform.Do you have a full estimate and plan for 3 years on the property?

Hey @Brandon Toron,Given your plan to turn the property into a short-term rental (STR), you have a few creative ways to push closer to that 90% cash-out goal, even if traditional lenders shy away from it:1.