In the latter situation (where I am paid monthly), as a short term lender, I only do 12 month Promissory Notes.

Financial Highlights•Acquisition Price: $72,000•Renovation Costs: $35,600•Total Investment: $107,600•Funds: raised from personal savings and private lender How did you add value to the deal?

Seems like a messy situation. 

Unfortunately a lot of times we have found tenants speaking bad on PM no matter what happens but still trying to improve that I am not aware of your individual situation so cannot speak on it yet.

I was able to become financially independent in 2 years with two properties.

Every situation is unique, and we work with strategic partners to provide solutions for almost any scenario.

With permit, benefits are 1) get depreciation and other tax write off benefits since it’s a permitted investment purpose ADU, 2) probably better for resell value, 3) have a separate address and don’t have to bother sorting out mails for our legal tenant, etc. without permit; benefits are 1) no hassle to get the permit, 2) no permit fees, 3) no tax on rental income (as it is more like a “roommate”)Has anyone gone through a similar situation before?

If it happens a second time, tell the tenants who are making the noise that they need to stop or they are in violation of the lease.This is solid advice and exactly what I would do in this situation.

My opinion only 2 cases make sense for the seller 1) they have few options and this presents the best means to get out if a bad situation.  

Payment Terms & Renovation LoansA financial agreement is the backbone of any contract.