And if you're having trouble leasing the unit, I would probably drop the restriction on being a non-smoker and just say they can't smoke in the unit (although they likely will). 

Depreciation – you actually reduce your taxes Substantially by taking the required depreciation the IRS imposes. 7.

Also be sure to check the restrictions in the banks P&S contract, sometimes they restrict you from selling within xx amount of days and/or above a certain % of purchase price.

I'm looking at doing an ADU up in the Napa Valley, it seems to be a good opportunity right now for areas with restricted housing supplies and steep prices.

There may be no restriction where you are. 

Also, your preference of location and condition may restrict your opportunities if you are too picky. 

That's what all the much ballyhooed social changes in America in the last forty years making us a less-restrictive, more-tolerant society really add up to when it comes to building and keeping wealth -- three percent.Please humor me and think about that for a minute. 5% of US millionaire households are headed up by people who were never married or divorced.

Unfortunately, due to Florida laws, substantial risk would be imposed on the seller if I were to do seller financing.

There are massive zoning restrictions in the city where my property is, my property happen to be in an allowable area.

Check for restrictions for short term rentals.