Also, does it really matter if I am "adding to the profit" side of the equation or "deducting from the basis" side?

Buy a turnkey deal on your first out of state investment to take some of the riskier variables out of the equation

Lots of people here equating Guesty (for Pros) to Guesty for Hosts.

It is a favorable equation b/c you get to include rent savings & loan paydown However, I do not understand how you can use loan paydown for the equation.

That equates to a better return on investment.I learned how to change the oil on my car, did it once, and realized it is not worth my time and effort.

If you truly are dependent on legalizing the garden unit, there is a lot of risk involved in this equation. 

they know about kitchen renovation too LOL :The property value of 22757 Charlemont Pl in Woodland Hills, CA has increased significantly over the years.The key details on the property value changes are:In August 2016, the property was sold for $941,000, which translates to around $345 per square foot.In June 2024, the property was sold again for $1,857,500, about 97% higher than the 2016 sale price.The 2024 sale price of $1,857,500 for the 2,730 square foot home equates to approximately $680 per square foot.So in the span of around 8 years from 2016 to 2024, the property value nearly doubled, increasing from $941,000 to $1,857,500.

Definitely take that into the equation when determining how much money you will walk away with.

It boils down to being on the ride side of the supply/demand equation.

Plus you are getting only one side of the equation.