We used $100k of private money and the rest was personal cash.

The investment is a little bit more upfront since you'll have to furnish the room and bathroom fully, but you may be able to command a higher rent each month since you're covering all utilities, WIFI, and providing all the furnishings.Either way, renting out the room is a great idea and I'm sure it will be helpful so you can rest a little bit easier while you save to move to Lakeview, eventually :)

I predict that the guys who are fully leveraged and cash flowing $100 per month will be motivated sellers when the next big correction happens.actually its either them or they walk and its their lenders selling that is what happened in that time period.. and was pronounced in certain markets.for me personally  I don't want to risk  my credit and finances and borrow 75k to make 1200 a year... or even 2400 a year if its a market that has a history of no appreciation and I don't feel there is going to be any significant appreciation.. 2 to 3% a year does not cut it.but I will take 500 a month negative or 10k a month negative if I think there are huge gains at the other end.. 

During period of low interest every post on BP was about cash flow - now that cash flow upon acquisition is dead the only option is equity which is also reeling because price appreciation is finally back to realitypersonally I buy for growth because I buy to hold for 10-20 years or longer.

My first property was a duplex, and then a year or so later she bought her house, and we moved in together living in MIL suite basement and rented out the rest of the house.

For what it's worth, I went through 5 different property managers in 2 different markets (one local, one out of state) over a period of 5 years, before deciding I would self-manage everything across both geographies beginning last year.

Period, full-stop, no exceptions. 

I have purchased an off-market property from an investor who now wants to sell the rest of his portfolio.

You will want to consult with a lawyer.In regards to your last two questions here's some background on what makes a contract valid and enforceable:Offer: A promise to do or not do something within a certain time period Acceptance: A clear and direct statement that all terms and responsibilities are accepted Consideration: A legal and adequate inducement given in exchange for the promise Capacity: The parties to the contract must have the legal capacity and competency to contract Awareness: A party must be aware of the contract Legality: The contract must be legal in the jurisdiction it will be operating in***Not legal advice*** Steps I would take: -Review contract in detail to understand each counterparties responsibilities (if you are not aware)- Email a copy of the lease to each of the tenants listed on the lease and reiterate lease expectations for termination notice, rent payment etc. - If the lease was signed via Docusign (other esign may have same ability) - you can go to the envelope, go to history and view the IP addresses for each action taken.

There are two large community pools, which are heated during the cooler months, tennis and pickle ball courts.The minimum STR period has been reduced from a year to six months.