@Ryan Luby- we will be at the New Haven meet up later today! 

You own a note that you could sell later if you need to.

I'm just wondering where this confidence comes that you are right, when last December you had just finished your first year in STR's and made $75k and was asking questions about how Airbnb places a property on the first page of search. and a year later you feel yourself to be an expert that knows more than anyone else? 

For example, I have my house, am building a legal JADU, but later down the road I decide to rent my entire house and buy another primary residence.

I wanted to share the numbers and want to make sense if it's a good deal for us according to what we are looking for.Price: $450k (agent said that we can get it down to $420k)2 Units (1 bedroom in each unit)Mortgage with 3 year fixed comes up to around $2.3kInsurance and tax is roughly $400Rent per unit is $1.4k so if we move out then total rent comes up to $2.8kThere's a detached ADU (garage) that can give us another $100-$150 if we rent it for storage and there's a scope of converting it into another unit later on.So currently rough calculation says that it can cashflow up to $300 per month.

For sure get an investment property first which is affordable (out of state), then later, buying your primary home will be even easier with lenders.

Our pro forma for the self storage property we built was rock solid until we opened the business and a year later I was facing losing everything because of all sorts of factors beyond my control.

Only time they really get bought is buy a novice who thinks they can turn them into something, only for them to later find out that it's cost prohibitive.

For instance, in Sec. 401(a)(9)(C) it says:...The term “required beginning date” means April 1 of the calendar year following the later of—(I) the calendar year in which the employee attains the applicable age...Example 3.

Consider all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.