If you have this debt and need money, you may not be preparing yourself for the challenges of being a landlord.

. :)This is especially true if you rely on furnishedfinder.com as your primary lead source (which you shouldn't, but that's another post) as when you make that connection with a prospective resident, you are selling yourself as a landlord as much as you are the property as a place to live.

So, just so I’m understanding correctly, unless the ADU has a driveway for parking of its own, then rent rates might go down on the actual house bc, essentially, the property land is being shared by different parties?

There are dozens of problems you can face as a landlord, and I feel it's important to have a plan for all of them.

Hi there,As a first-time landlord in NYC, it's great that you're being cautious about this.

got out of flipping to new construction in our market in columbus ohio. licensed general contractor. when interest rates got high single family existing went down by 30% new builds sold at a 6% increase that year which demonstrated the desire and premium that new construction commands. never looking back. total control, rinse and repeat. we can get permits in 28 days. we can buy land cash in 21 days. we can build in 120 days to 140 days and keep moving. super scalable and easy and no risk. we build the same 2-3 Floorplans 

The expert you are looking for is called a Land Surveyor, they're going to want 5k-15k, if you want to make any money on your project you need to build a house so you also need an architect, they will want 10k-50k, if you're in a hillside zone you will also need a geologist, they're going to want 10k, you will also need a biologist, they're going to want 2k-5k.

Depreciate 75% of the building value (excluding land) over 27.5 years for significant tax savings.

I'd also like to try to purchase with a land trust or my LLC. 

I've gone from sfh rentals in my area to land flipping and now to building cabins to hold and to sell.