Hi Shawn - thank you for the encouragement.

It is true that you may miss out on this home, if sold this week, but also consider the Joy Of Missing Out (JOMO) by not overpaying for this property and also footing the bill for many of the potential repairs required for a 120+ year old home as mentioned above by the previous commentors.I would encourage you to take a contractor with you to the open house or someone with experience in this age of home to give you some insight into the property and what may need to be addressed in the first few years of ownership. 

I wanted to show them what it could potentially cost to clean or make repairs if we have to hire a professional, hoping it would encourage them to do the work themselves.

CA is offering incentives for new builds, tiny home, and AB1033 encourages ADU's to be conveyed separately.

Depending on what the gain will be, it may have been a good thing to do.Selling a property is a meaningful taxable event.

One, people should not be encouraged to borrow personally to pay for the program.

came here to point out what others have: the regulations. i'd encourage you to look beyond a 45min flight, because there really should be no reason you'd ever have to go there if you're running it like a true business & have a great team in place! 

I'd encourage you to find them for some perspective to contrast the wet blanket mess I'm about to drop...In my personal experience, the only reason it made sense was b/c I was able to 100% loans for the purchase, with interest rates less than 1%. 

Ruben- I'm encouraging people to learn how to property manage their own long-term and medium term rentals.

If you have owned a few rentals and done some flips, I would say you are going to struggle to raise any meaningful capital.