Best practice is to keep one or two payments in reserve from the buyers down payment for such instances.

Zoning and Permits: Make sure to check the zoning laws and permit requirements for building an ADU in the area. 4.

.: It's not an issue IF their lease is scheduled to expire.My personal practice: when a tenant submits an application, I let them know I intend to contact their former landlords.

Not trying to scare you, but a lot of lawsuits happen because the landlord doesn't follow fair housing laws, or simply neglects repairs etc.

My initial interest in out-of-state investing stems from the high cost of multifamily properties in New York and the state’s renter-friendly laws.

Check your local/state law.

A client of mine recently invested there and raves aboutt the ease of finding solid contractors who stick to the budget.One piece of advice: before jumping into any market, spend time understanding the local economy, demand drivers (like job growth and population trends), and the landloard laws.

Top 3 reasons owners hire PMCs:1) No time to manage correctly2) No time to learn how to manage correcly: laws, documents, processes, etc.3) They're too nice and need someone to "save them from themselves"A good PMC can usually earn their fees by better managing the property/tenant than the owner, thereby:1) Increasing owners net profit2) Decreasing owner's time commitment, stress, headaches, etc.No matter what though, you should always plan to commit a couple of hours a month to manage your PMC.

Hi Anthony-You asked about the best ways to find off-market deals for your in-laws to buy and move into and you are focussed on the Santa Barbara, CA area which I have been to and it is gorgeous.It kind of reminds me of an Ann Arbor on the ocean. :)Anyway, I like your strategy of driving and looking for houses in need of repair and sending handwritten letters and contacting rentals for the reasons you gave.

Hi Joe,Using a Home Equity Line of Credit (HELOC) on your primary residence can be a practical and low-cost way to fund flips, especially since the terms you mentioned include only a $200 yearly fee.