Starting to invest in real estate means setting clear goals, gaining hands-on experience, and learning a lot.

(Max vacated rents - your monthly mortgage payment) = +/- net cashflow.On the other hand, you could also look into multifamily units where you can live one of the unit and rent out the other vacant units with as little as 5% down payment.

>Understand the cost/value of completing an ADU projectIn my market ADU additions in single family zoned areas are getting valuations far below the hands off cost of the ADU addition.  

Obviously, if they have a credit score above 800 and a clean background check, I would tend to trust them more.On the other hand, if you have a property management company, meeting the tenants in person means they have your contact information and may call or text you before contacting the property management company.All best, Phillip

@Stephanie Betters can your app handle prospects (hundreds of thousands of them) or it is better for lead management (once a prospect "raises their hand" a becomes a lead)?

I mean can I take a 600k loan to meet a 3 million dollar building's down payment and cash on hand requirements? 

So being able to outsource to a company who is solely focused on inspections, turnaround times of 24 hours from inspection to report in hand with photos, it's our first summer using them and it's been amazing.

@Kevin Sobilo had some good comments but a couple other things to think about.A cashout refi doesn't make sense because you would need to go conventional and the rate would be higher.A HELOC is possible but since it is an investment property, not every lender will have an option AND even with a $100k HELOC at 10%, you're looking at $833 in interest payments, taking your cash flow negative.I think your best options are either selling for the reasons Kevin mentioned or using your current cash on hand.

Youd be in good hands with him.

Now a historical area on the other hand, with restrictions... this makes me look at what I will have to do and the extra steps I would have to take to do it.