ADU/Backyard Cottage$65,000 total costRent for $750-900 a month, and utilities would be included as they are not separately metered.Property taxes are hotly contested at this point, as our county has been drastically increasing them once building has completed.

(I may not be saying this well, please forgive me.)In my opinion it is better to pare down your holdings and have them support themselves than for you to be eating mac and cheese every night to keep it all afloat hoping for appreciation and pay downs to make it all "right".

I have seen prefab modular homes that have a cottage feeling where you can plot in rural areas, preferably outside the GTA where land values are low and residents can relate with that kind of build.

Don't forget the option of finding a property that is suitable both for your primary residence AND income - a duplex or a home with a cottage out behind, etc.

I became an investor by using a small inheritance to buy a little cottage close to me that needed a complete (COMPLETE) redo.  

After doing some research and listening to a great podcast from this site, I am thinking the vacation rental may be a good option for me.Here is my situation, I am wondering if anyone has advise or thoughts on this.My wife and I are currently paying off student loansI live in Michigan at make about $90k a yearWe are owner-occupiers with a duplex (about $100k left to pay)I reached out to my mortgage guy for pre-financingWhat I'm looking at:  A cottage on a lake, near a ski resort, and casinoAny advice is welcome...

They owned a house on a very popular lake not far from where I lived and we have always wanted a lake cottage.

Feels like a cozy cottage on the water. $60,000 of recent upgrades and remodeling; including radiant floor heating.

Who Moved My Cheese" - Spencer Johnson M.D.

Hi Jack,North King County cities would be along the lines of Shoreline, Lake Forest Park, Kenmore, Bothell, Cottage Lake, Duvall.