I been approached on occasions to get involved in business propositions that look great on the surface, but just didn't sit right for me after doing the my due diligence.

Assuming it is legal, I would do a good amount of due diligence on the property with regards to the leases (if there are any), neighbors (who probably hate the house), and the actual property itself.From what I know about boarding houses is that they are high cash flow/high management propositions.

Rent is certainly not a linear proposition.

Especially given that SPI has a lot of down time (summer) when I could probably expect quite a bit of vacancy it didn't seem like a better proposition than long term rentals I'm doing. 

I even read to him the sentence that says "Under Proposition 19, a child or children may keep the lower property tax base of the parent(s) ONLY if the property is the principal residence of the parent(s) and the child or children make it their principal residence within one year."

For mine, it's a spendy proposition to do a separate meter, as the main panel is about 200 feet away (20 ac. lot) Out of curiosity, what fees, etc. are you required to pay to convert? 

That's a scary proposition.

But it's not necessarily an either/or proposition.

REITS can operate on currency differences among other metrics but it's a long term proposition.  

@Cole Hagen It's not an either or proposition.