Or use it to improve your current property to generate rental income immediately with a MIL or backyard cottage.

What the city has a problem with is an investor purchasing the property renting out the main house and also doing a short term rental in the onsite cottage or other swelling.

etc).If you have $X to spend on a house, you might get a bigger one on the Avenue versus a small cottage in Ojai, but do the math to see how much of the mortgage your future renters would cover, and take the "value" of where you want to live into consideration.Good luck!

Conrad welcome to biggerpocketsLet me know when you’re practicing in the cheese kingdomIt always best to have extra attorney / accountant contactswww.biggerpockets.com/renewsblog/2012/12/19/keyword-alert-system/

For example, if there's a nice 600sf 1bed/1bath cottage on 0.5 acres, with no restrictions, what's a way to measure this vs. an identical piece of land on the same street with a house of similar construction/quality but only it's 2bed/2bath and 1800sf?

Our cheese has been moved, so let’s find a new path through the maze to get it.

@Tristan S. we have been on AirBnB for almost exactly a year with our 2 bed/2 bath cottage.

I like to be east of cottage myself.Personally, numbers sound realistic but I get nervous when sellers find tenants, choose the PM firm, and handle city inspections.

We are considering the purchase of 13 cottages on a 3 acre lot in a primarily summer vacation mountain area..Being somewhat new to this (STR investing), I'm looking for any and all help, advice. mentors or critiques..1) Financing:  I seem to be hitting a wall with conventional lenders because of the uniqueness of the property and the fact that all the cottages need lots of work and haven't been rented in a couple years.I'm about to sell a house which will net us about $300K  and I own a commercial property which I wasn't really ready to sell but might in order to purchase this unique property..Asking price is $500K and renovations should run about $250K Any and all suggestions, help would be appreciated...

We are looking for a property with a large house to be the rental as well a small unit for her to live in (adu, cottage, etc.).