What are you looking for in terms of help rents, market analysis, or bit of everything?

In terms of the illegal 1 bed cottage... so this isn't uncommon in my neck of the woods (NYC) in terms of something similar (basement apartments, garage apartments, etc.) 

For property owners in this area, what have you seen in terms of supply and demand. 

So not currently on my radar in terms of places to invest.

How hard is it to get approved in terms of city approval for something like this?

It couldn't hurt to call a couple attorneys right away to see what they say in terms of cost and suggestions for dealing with this quickly.In terms of mitigating any legal issues with your tenant be sure you are documenting every conversation you have had with the HOA in terms of asking them to make the necessary repairs.

The two are almost entirely different markets in terms of price points, returns, tenant quality, and overall investing strategy.

Underwriting a new construction is like a flip on steroids in terms of volume, however you will find that you can get a much more accurate budget in the end because unlike a flip, there are very few unknowns going into it.

Real estate is not the stock market and it's called buy & hold and not buy & sell for a reason.I did sell a few properties about 10 years ago when I learned the hard way that going into cheaper neighborhoods was not the right strategy for me, so that was basically a strategy correction and it was necessary, but also costly both in terms of dollars and time.

Additionally in terms of a GP/ LP relationship, would preference of LPs create the same dynamic in choosing one GP/Sponsor investment over another, if all technicals and numbers are the similar between two investment?