Here are the new rental laws in California for 2024.

@Nitesh Chand check your state & local laws!

@Stefano Mitrano if it is transferred to LLC they can call the loan by law, and if they have not done it for someone else - would you risk to check if they will do it for you?

The tenant laws in New York make life as a property owner way harder. 

This has been our primary business for well-over thirty (30) years, but in California ONLY.Few posters here are attorneys, let alone licensed to practice law in Hawaii.

Remember, the first deal is not meant to make you money, it’s meant to get you into the 6% club (only 6% of Americans own one or more rental properties)  Get into the club and figure out which direction you want to scale.If I were to start all over again, knowing what I know now, and assuming I had some good cash to work with (I was broke as a joke when I started), I would have done small commercial all the way.  

You can find SF properties that already have in law suites, garage units, etc, and now legally rent those, so it should increase the appraised value significantly.

You’ll want to get really familiar with local zoning laws, short-term rental rules, and landlord-tenant laws as they vary by town if you plan on going the STR route.Focus on Cash Flow Early On: You might be tempted to go for something that appreciates quickly, but in the early stages, it’s important to find properties that bring in cash flow.

By law, the most recent purchase price is the default value and it is impossible to overcome unless the property was destroyed after the recent purchase.

Well, I guess this says it as well as I could.This growth in ADU establishment goes hand in hand with progressive changes in Michigan's zoning laws.