For instance, properties with an accessory dwelling unit (ADU) on the lot that can be implemented as a long-term or short-term rental can perform exceptionally well.

The property is being purchased at 103 with an ARV of 375.

I think you have the basics of meeting partners and people to work with in your local market and seem to be well on the way with two deals going already so big congrats there!

This is extremely unfortunate and I think the name does not match their product, but there will be many others out there that do the same - so what can we take and learn from this as well?

I might sell some units as well. 

Are you focusing on local investments within LA County, or are you considering opportunities outside the area as well?

@Frankie Lotrec if you have an existing loan on the property and you plan to legally convert from a 4 unit to 5 unit , you should check the loan documents because you’d essentially be converting it to a commercial property, since 5+ units is considered commercial and subject to different appraisal approaches and so it would rule out the property being considered for purchasers utilizing residential financing.  

Hi @Robert B Azimi,A home that has been registered through The Mills Act, can be rented out the same as any other property, and it can even increase rental revenue as there are people who really like the thought of living in a historic house.

Good potential for appreciation/rent growth upside as well in the next 5-10 years in my opinion with the market still being one of the most affordable in the country.

Are you thinking about managing versus a property manager or are you also thinking of selling as well?