But a wide ballpark would be around $800-1200/mo long term or $1500-2000/mo as a short term rental.Understanding Zoning Requirements for ADUs in Raleigh. 1.

You'll need more capital and most will require a personal guarantee and personal financial backing. 

Purchase price: $275,000 Cash invested: $45,000 Sale price: $400,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

Purchase price: $275,000 Cash invested: $45,000 Sale price: $410,000 Contributors: Adam Schooley This townhouse, which had gone through probate, suffered from significant water damage to the drywall and required updates throughout.

It requires registration, so there could be some fees or work involved in setting up.

Basically a partnership.

That being said, there won't be any down payment required since you have equity (you're guessing ~55,000 but I wasn't sure if you were meaning the property is ballpark worth ~$175,000, or more than that). 

At the same time, I am also using this opportunity to move that capital into an LLC, and would look to extra financing to purchase a new property or properties of equal or higher value (per 1031 exchange requirements).

You should always require them to add you to their policy as "additional insured" or "additional interest" and you will be notified if they cancel or change their policy.

I wouldn’t lower your credit score requirement or you’re going to end up needing to evict again and having turnover expenses.