Hey Johnny,I have moved to the Danville Area and sounds like I am in the same position you was in at the time of writing the post - i am searching for my first deal (looking for multi family) ideally in Danville.How did your first deal go?

I currently have a very stable software engineer position and eventually hope to cut back hours or become a contractor that works 20 hours per week once I am able to hit some of my financial goals.The ADU seems like a potential way to keep my mortgage expenses down since I would just pay for it up front with the sell of the property.

Are the occupancy rates, ADR, and occupancy growth trending positively?

The result is a stronger financial position and more flexibility in managing the property.

It will be difficult finding a second position lender on a primary purchase (IF THEY EXIST AT ALL).

Your experience with having a home built by a local builder puts you in a good position to understand the process, and it's smart to ask these questions before diving in.Profit Sharing (50/50 Split): Yes, a 50/50 profit-sharing arrangement is fairly common when the investor funds the entire project.

Taking that money out and anything that leads to more people using the equity from their homes and reduces the friction to that process is not good in the long run.As a NPL buyer who buys 1st position mortgages, we do watch stuff like this carefully as the moment these borrowers get high CLTV's any drop in pricing and change in economic conditions will lead to more foreclosures versus bankruptcies.

I was in the exact same position.

Analyzing marketing materials can offer insights into their branding and market positioning.

From a management position, Evan is correct in that most issues are dealt with on a business hours timeframe vs. 24-7 for anything residential in nature.