If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

@Carly Cohen I’m glad this resonated with you.

I confirmed this with the DRE and CAR, and it seems the rules haven’t changed.

Putting five unrelated occupants in one home means five cars parked outside, five different group friends visiting the home, increased likelihood of noise or parties, and other problems.Personally, I have pretty strict requirements when three or more unrelated people are renting together because of the potential problems.

There are bikes, kids' toys, and even cars flipped over in driveways.

Spackle and paint numerous times, fill holes in the wall, have had to wake up early to move my car due to the parking situation, etc. - Have had to sit down all five tenants and reset expectations in terms of cleaning (including the 68 year old co-worker).3.

You hope either (1) neither lender finds out and or (2) neither lender decides to take action if they find out.Second, you make up the difference in equity with either (1)cash (2) 2nd mortgage loan with the owner with less equity giving to owner with more equity and/or (3) trading something else of value, such as another property, car, RV, etc. 

Use their tax advantage payroll savings to pay for their car, college, even clothing.2.  

Thanks.I don't have experience, but I don't see how it's economically wise.Only 2.3% of all cars in New Jersey are electric. 

It is in great shape in a nice neighborhood and each unit has over 2,000 ft with a large 1 car garage and a large deck.