Hey Joanne, you’re definitely onto something with room rentals.. it can be an excellent strategy for offsetting a hefty mortgage and, in some cases, bringing in higher total rent than a single lease.

Quote from @Jeffrey Mair: Hello, I am seeking advice or creative ideas to move closer to the goal of owning a home in San Diego county without the obvious solution of selling off my small rental portfolio.

thanks for your time and help 1st off, full disclosure here, Rent To Retirement advertises their properties on my Investment Properties For Sale Show, so I am not a totally unbiased opinion and it's only fair that I tell you this up frontHaving said that, outside of running my show for people like them, I also own a property management company in Northeast Ohio and have worked with 1,000's of out of state investors over the years.I say all of that to say this, the overwhelming majority of negative reviews I have seen on them are very similar to a lot of negative experiences investors have with my property management company and others like it that I've worked with.

@Yooni Choi Self-managing out-of-state properties is totally doable with the right systems in place.

Some amenities are crucial and obvious (pots and pans, plates, linens, good Wi-Fi), some are unnecessary and obviously so (personal movie theater with arcade game room), but the trickier amenities lie in the 2 middle zones.What are some necessary amenities that you might overlook? 

If someone had gotten hurt and sued for $1mm then these coverages would have kicked in.Having been thru the claim process on a total loss.

Hello @Yvonne Wang,The scope of work should include the following:- Basic info: Property address, client name, contractor's contact info, address, license#'s, signed general/operating agreement b/w contractor and client- Specification of repairs: Repair item, Quantity of items needed, total & per unit cost of items, taxes (if applicable), Completion hours, title of the person responsible for the repair item, written summary describing the work- Add'l info: Schedule of repairs, additional payment schedule details i.e. disbursement schedule, method of disbursement, deposits, holdback amounts, etc.The screenshot below highlights a couple of repair items.

@Zach Denny Did you ever put your deal together, if so I'd be curious what the bank required on CLTV and if you had to source the total down payment (PP-First Loan) then apply seller second, or if the bank let you do all that at closing functionally making your DP = PP-First Loan-Second Loan.

Obviously past results are not necessarily indicative of future performance, but it seems like a great investment for accredited investors to get a low-risk, solid return in exchange for some illiquidity.

In my opinion, more important metrics are total profit and time spent managing the operation.All marketing works.