I had a rather complicated RE play I was doing in 2012 and of course financing was still non existent I sent a basic concept plan they looked at it for about 3 days and came back and said hey we like it just need 10k to move forward..

Just remember: most negative reviews are written by problematic tenants.

As you begin, it's essential to familiarize yourself with the key concepts and strategies that will help you succeed.First and foremost, building a strong network is crucial.

Oregon lifted the ban on co-living/rent by the room in 2022, yet the county is completely unfamiliar with the concept. 

I think we will shoot for this, hoping for our cash flow to be just slightly positive, mostly so it's not negative.

It can be a negative factor if there's increased traffic/noise or if it blocks off a view. 

It was the concept I mentioned that I just had to learn about.  

I realize a sample of one is real small and that she did minimal research before proceeding but she is so far negative on this ADU conversion that even with better contacts and research it would still be negative. 

This post was mostly for residential lending...but many of the same concepts will work.  

FHA has its own inspections so to win at FHA (unless you are doing 203k which is not advisable right now and for a new investor) you need a property that will pass the test.Your net income will be low to negative with FHA and PMI as well, which can be ok in NY/NJ with appreciation, but it seems like you are thinking more units, more income, but it also means more problems for a first-time landlord.