You need to have reserves in either cash or credit regardless of the situation. 20k can go away in a blink.

You also may need to start with more capital so you are prepared for unexpected situations.

Quote from @Ricky Reddin: Hello,This is my first post on the forum and trying to get some guidance on a situation.

In most situations, the more profitable a property is, the higher percentage the GP is paid.

And because I'm looking for a long term finance situation, I'm not looking for a loan that is going to have a really high interest rate, with hopes of refinancing later.

Qualified Joint Venture reporting is not available in this situation.

When I looked into IRA accounts, I found that it didn't do service to my situation.

Quote from @Danny Gonzalez: @Joshua Lanzieri  I’d recommend hopping on a call with your property manager as soon as possible to clarify the situation.

However, after receiving the survey results, I discovered that the house is located less than 1 foot over the sublot line (see attached image).Here are the options I’m considering:Rent the current house for market value (~$1,500–1,600/month) and convert the detached garage into an ADU to rent for ~$1,000/month.Relocate the house to split the lot, then sell the newly created lot (~$100,000) while renting out the existing house.Relocate the house to split the lot and build a new home on the second lot.Demolish the current house and garage, split the lot, and build two new homes.At this time, I am uncertain about the cost of relocating the house.Questions for the community:Has anyone faced a similar situation?

You’re in a win win situation no matter what however I guess you would also want to take in account any major cap x repairs that might be coming up soon in the future you might want to avoid paying.