@Bradley Buxton makes a very good point to make sure to do your due diligence as you won't be an owner occupant like your in-laws.Last bit of advice: Because this is a friendly deal, you want to take your time to make sure you structure it in a way that maximizes tax and cashflow benefits for both parties. 

Thank you again for taking the time!  

Costs and Timeline: The process of splitting and developing lots can take time (1.5 years) and may involve significant costs for permits, construction, and other development fees.If you want to learn more about how SB-9 can work for situations like this, check out our website "CityStructure" for more info and helpful resources.

Until the lease ends and then the legal notice time in your market has passed.

I recently completed one on a multifamily property and found it to be a cost-effective approach.That said, there are a couple of additional factors to consider beyond the code differences between a garage conversion and new construction:Coastal Overlay Zones – If your property is in a coastal overlay, building a ground-up ADU may require Coastal Commission review, which can add time and complexity to the process.

I guess I'd like an option like that though instead of "Reject".Right now, they're just "Pending" in limbo.I'd be curious to hear others processes for handling this in PM software, even if you don't use RentRedi.I've tried to explain the situation to RentRedi support many times and they're making me want to pull out what hair I still have.Thanks in advance,Brandon

I'm a mother of an 8 and 11 year olds, my husband works full-time but I quit my job when we had my daughter and wanted RE investing to replace my income.

With an owner-occupied loan, you can buy a house with 0-5% down and get 30-year fixed rate financing so you're not dealing with adjustable rates if rates go back up and not dealing with a balloon payment in 6-24 months which is plenty of time for an experienced investor but not a whole lot if you're new. 

Monty, take a small amount of time to work on your credit daily.

Bonus depreciation is a one-time election per asset at the time of acquisition.