Keep in mind that with a mortgage you are also building equity, so that's a plus.

Purchase price: $131,000 Cash invested: $41,000 Off market deal - Going in this project with an Opportunistic BRRR mind.

. :)  I am hoping to network with all relevant professionals in the field...especially like minded investors in my local area.

In my mind a condo will provide me:-CAPEX is controlled by HOA (I only have to pay, not dedicate time)-Low down payment-Cheap financing paymentI plan to live there for 3-5 years and after could expect a NIAF around ($200). 

Any recommendations of contractors familiar with this business model will also be appreciated.Also would love to hear about any other gotchas and things to keep in mind about this business model.

As I said, math and numbers aren't my strength, but I'm a dedicated student when I put my mind to something, and I know how to read and use a calculator :)Thanks for reading!

I've talked to a few tax accountants and attorneys about it and some are open-minded, while others are convinced that they are a complete sham (though they actually know very little about them).I'm curious if anyone on here has actually seriously considered using one or actually used one? 

.: Quote from @Chris Seveney: @Dana YobstBlows my mind how he is out there still teaching classes and going on as nothing happened but it sounds like these debts are not getting substantially paid down.As many of us know, one of the main reasons he's able to continue on is with the help of this other self proclaimed criminal https://weclosenotes.com/ep-nc-03-protecting-yourself-using-a-corporate-veil-with-aaron-young-from-laughlin-associates/ Using a remote entity to limit liability is a life blood of insuring investment into all types of job creating, life saving and life improving business development.  

Here's whats on my mind.

- What are some best practices we should keep in mind to keep maintenance cost of the ADU to the minimum in the long run?