Your location may also play a factor in this.

Both options you’re considering have their pros and cons.Converting your garage into a studio would give you a fairly quick ROI with the potential for passive income.

I’m considering traditional lenders, but open to creative options.If I were to bring on an equity partner, what’s a fair and motivating structure for both sides?

Everything else is fair game. 

Fair enough, thank you!

I own land and a fairly new mobile home in Henderson Co.

Aside from disclosures, which I think can sometimes hinder a purchase or a sale, it's a lot harder to play dumb as a seller when you are a licensed professional. 

This needs to be highlighted in the lease and acknowledged by them.Security Deposits: You can’t use their security deposit for routine cleaning, but if they leave things in bad shape beyond normal wear and tear, it’s fair game to deduct cleaning costs.I’d start by having a straightforward talk with them about the importance of keeping things clean for health reasons and property preservation.

Ultimately, it depends on whether you want to lock in gains now or play the long game.

If so, you will need to rollover those funds into respective money sources of pre-tax and Roth. 2) Analyzing whether to use IRA or Solo 401(k), is fairly straight forward, when the intent is for you to have your own business and want to use the funds for real estate investing.