Question 2) the depreciation rate of the new, 400k property is independent of your basis going into the new property right?

Summary of Key Differences: Aspect DSCR Cap Rate Purpose Measures debt service ability Measures investment return Formula NOI / Debt Service NOI / Purchase Price Focus Cash flow vs. loan payments Income vs. property value Perspective Lender’s viewpoint (loan approval) Investor’s viewpoint (ROI evaluation) Role of Financing Highly dependent on loan terms Independent of financing Use Primarily for loan qualification Property valuation and comparison Conclusion: DSCR is critical when securing financing because it shows how well the property can cover its debt payments.

I opted to represent myself (as an independent landowner).

The only time we make exceptions is if the adult is disabled and incapable of living independently or elderly and being cared for by a relative.

BP and Rich Dad podcasts have been vocal about this niche. If you found the ideal property for this type of niche, what would be your first step in seeking out a business operator who would rent the property from you ...

What is financial independence to you? 

Bring up to code is in quotes because they will likely let you grandfather some of the work in--depends on the officer/town.Edit: Note I have no experience with California real estate, just how I have approached buildings with unpermitted work in upstate New York. 

I'm particularly interested in strategies that could help me achieve financial independence as soon as possible.

I have been working with a wholesale brokerage here in Houston and I am an independent contractor for them and I Dispo all of their deals.

What I've enjoyed about working with RTR is the fact that they are completely independent of all these parties and they can offer me unbiased opinions on different investment locations & properties as there are many different builders/sellers to choose from.