I do have the text message conversation where the landlord agreed to the reduction in exchange of the two bedrooms.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $480,000

Cash invested: $75,000

Purchased as a single family home with a basement and a seperate entrence. C...

@Akil MitchellFrom my experience, when buying a property, it's crucial to assess local building codes, potential de-conversion costs, and permit requirements.

If they are legit and you don’t have any other offers then I’d have the conversation with them but I’d want a higher than normal down payment (ideally 50% or at least more than the normal 20%), a higher than normal interest rate (at least a point above the prevailing rate so like 9-10% right now, but you can structure it as interest-only payments so their monthly payment is still lower than conventional), amortized over 30 but with a balloon in 3-5 years, something like that.

Cheap hands off legal ADU garage conversions in coastal So Cal start at ~$120k (if all goes well).  

Conversely, if one side of the house sits on unconsolidated fill or on silt, it would settle or shift over time - once again, causing cracking.

query=garage#sear...If you can rent a 2 garage at $450 without spending ~$150k for a garage ADU conversion, no work/risk of the ADU conversion, the lower maintenance/capex, easier eviction, no rent control, less tenant interaction, it will not convert your SFR to rent control, etc, it seems superior to the garage ADU conversion.  

I understand the downsides (well not all of it since I am inexperienced) but just like LTR I believe there are risks with any form of investment.Thank you so much for the reply, I see I didn't know it was mumbo jumbo I thought it was "professional" formal talk I wanted to give off the impression of some form of professionality to build a rapport but you're right I should be more straightforward but I want to first ask if they're open to corporate leasing because I will be hosting via my LLC and since I'm going to most likely advertise towards Travel nurses it wouldn't only be on airbnb but on different sites like furnished booking so I wanted to leave it a bit ambiguous so that it can start a conversation rather than have it limited to only being seen as just another airbnb pitch. 

At 1031 Capital Solutions, we have daily conversations with landlords contemplating selling their rental properties, many of which are single-family homes or small multi-unit residences.

Stanley - I would suggest that you go have 3-5 conversations with lenders and understand how much they are willing to lend to you given your financial situation.