You could even buy a property and convert the garage with the difference (although you don't get dollar for dollar value from an appraisal perspective). 

I have one investment property (primary home converted to a rental, my first tenant will move in mid-April) and I have been getting mixed opinions on what is best for someone just starting.

I have friends in CA who converted their two-car garage into an apartment and used it for additional income.

I preferred a duplex, but the market was too hot for me to compete so I bought a big house and converted it to multiple units so I can live in one and rent the rest.

I preferred a duplex, but the market was too hot for me to compete so I bought a big house and converted it to multiple units so I can live in one and rent the rest.

Does anyone in the Seattle are have the process for converting the single utilities into two? 

There is also a 5-year rule for Roth IRA conversions, where converted amounts must remain in the Roth IRA for at least five years to avoid penalties on earnings.

Purchase price: $190,000 Cash invested: $190,000 SFR purchased as residence and converted to rental after 5 years.

If you're not careful, you can have your entire gain converted into non-exchangeable ordinary income. 

However, construction and material rates are fairly close across the nation.The only half decent deals I've seen within this sector that make it financially feasible is to find an existing warehouse that could be converted to smaller spaces if possible, which helps cut down on time the property remains unleased.