- FYI: it's only illegal to try to rent it out, the property owner can usually legally live in a nonconforming basement unit.If you do all this you may still negatively cashflow each month, so make sure your income can cover and/or your cash reserves.If you do this successfully, you will learn more in 1-2 years than you would reading here on BP for 5+ years:)Good luck:)

I plan to start my investing journey with an owner occupied multi-family in Albany or the surrounding cities.

If you're tax bill is $6-8k (minus the 1031 fees), surely you can make that up by taking multiple swings over a longer period of time.OR pursue some sort of owner occupied strategy with that cash if you can swing a live in flip or house hack.

The main reason cited that as a small property owner, not using PM's, if anything happens, the LLC and you will be sued anyway.

If you use the Heloc option and decide to rent it out, don't forget that property (or you) will have to cover both your primary and secondary position notes.I don't personally see Marin being a great mid term market.

You should 100% have insurance because of the worst case scenarios (what if someone dies and they blame you the property owner), but it's not something you'll want to use frequently. 

You can do a bit of your own due diligence to get an idea of pricing in your area and talk to a few wholesalers before deciding.

If the water bill is $100 a month, increase the price by 20% (or whatever you decide is fair) to compensate you for the time required to split and bill and to cover additional use when tenants squander the utility.

- FYI: it's only illegal to try to rent it out, the property owner can usually legally live in a nonconforming basement unit.If you do all this you may still negatively cashflow each month, so make sure your income can cover and/or your cash reserves.If you do this successfully, you will learn more in 1-2 years than you would reading here on BP for 5+ years:)Good luck:)

In Las Vegas they decided it has to be away form others, have sound monitoring equipment, ban parties, AND it has to be your primary home that you live in WHILE it’s rented out .