Although I do know someone who has guest bedrooms and uses them mainly for in laws visiting from out of town.

The original goal, rightly or wrongly, was to maximize rentable units, so we rebuilt the main house from the foundation up into a 3 bed 2 Bath 1,600 sq foot main house, and added a 600 sq ft 1 Bed 1 Bath JADU, along with a 1,200 sq ft 3 Bed 3 Bath ADU.

**Letter of Intent (LOI)**: Though not legally binding, an LOI can outline the basic terms and conditions of a potential deal before the final contracts are drawn up, ensuring that all parties are on the same page.It's always wise to consult with a real estate attorney to ensure that your contracts comply with local laws and protect your interests.

Rents continue to climb as well but likely not enough to keep up with increasing monthly mortgage payments when considering interest rates and soaring property values.There are 2 main schools of thought when considering investing in an expensive market like Long Island.- Robert Kiyosaki, Grant Cardone, and similar thinkers believe its best to invest in markets with higher cashflow while renting where you want to live.

If you don't have intentions of getting married, I would make sure there is an ironclad partnership agreement on the property itself.

@Rich Davis "The difference is I'm in Maine, where the evictions laws lean landlord friendly.

The reality is the opposite - if it's not in writing then the PMC doesn't have to provide the service or can charge extra for it.We have a 12 page management contract that we've added our real experiences to over the years, with the intent of protecting both us AND the landlord.

My passion lies in expanding my portfolio of long-term rentals and diving into property flipping as I grow in this journey.My main goals are to connect with like-minded investors and professionals, share experiences, and soak up as much knowledge as I can from this incredible community.If you’re based in Georgia or working on similar projects, I’d love to connect and hear about your journey!

Some companies include Stein Mart, RadioShack and Pier 1.Source: ( Link, 36:15)Santarelli claims Norada Capital Management pivoted around 2020, Santarelli states he that he offered these companies “LOI” (letter of intent) offering to buy all of their intellectual property, brand names, trademarks, websites and customer databases from bankrupt entities like Dressbarn.

Purchase price: $2,000 Cash invested: $60,000 Sale price: $91,000 Bought this one from WCLB with the intention to fix it and sell on market to homeowner.