I double checked and these layouts do have two exit doors for both primary and the next gen suite as well.

From an operational standpoint you might also want to consider the cost of any extra tax returns that are needed by the entity as well as any extra accounting fees.Good Luck!

I live an hour away from Kingman and have a couple of friends that live and work there as well.

Sabbatical homes dot com and furnished finder have been good in the past as well but I have not used them recently.

Well, three top reasons come to mind:It will allow you to deduct their earnings on your own tax return.It is required by law for any person to whom you paid at least $600 in 2023, total.

To Sum it up, its a good idea if you can exceed the cost of capital (higher rate than your cost of debt) with what you earn on your heloc/debt you pull out and invest.The question is how much gains above is enough to substantiate the risk of your variable interest rate, well thats up to your personal investing criteria.

Well, apart from “if you give me $3000.”Luckily this is a co-living model through PadSplit so I have some income coming in.

Thanks.Hi Courtney,BiggerPockets Pro members get access to all Stessa core (free tier) functionality – plus unlock exclusive access to advanced features, like unlimited portfolios and Schedule of Real Estate Owned (SREO), all at no additional cost.BiggerPockets Pro members have free access to all Stessa’s featured benefits as well as advanced features, like unlimited portfolios and Schedule of Real Estate Owned (SREO) – giving Pro members exclusive value not offered to Stessa Free members.Simplify tax time and help maximize deductions Organize financial data and accountingEasily track key property metrics to optimize and boost ROI. 

You would end up saving the higher interest rate on the HELOC as well as closing costs.

It's an estimated cash on cash return given current rental rates subtract expenses assuming 7% interest rate, 10% management fee, 5% repairs, 5% capex and other expenses like mortgage, insurance, tax. it's a estimate to tell you what properties to analyze vs ignoreyou can see the are pockets of negative returns as well as pockets of positive return. this is to supplement the data @Devin Conley provided