Quote from @Sam Walls: Hey Marcus, I work with a lot of investors in the Philly suburbs, and I can tell you that connecting with like-minded people in the early stages of their journey can make a huge difference.

There are pros/cons to the bay area vs out of state and everyone's situation is different to reach their goals within their own timeline. 

If you would like a free copy of this white paper, please DM me.Below are some of the results of our study:Short-term rentals and mid-term rentals are fundamentally different.

Why ask: Access to consistent support after meetings can make a huge difference in your progress.

At the end of the day, the problems are the same, just on different platforms.

During the "fix up" process, you would use a different kind of loan that will end up converting to a DSCR loan once you have tenants living in the unit(s).So, I would need to use maybe a construction loan for the renovations and then convert it to a DSCR loan?

A friend and I created one recently:https://drive.google.com/file/...It was meant to compare costs between different lenders, but you can use it to just see costs from one lender as well.

A refinance is a different story.

I recently completed one on a multifamily property and found it to be a cost-effective approach.That said, there are a couple of additional factors to consider beyond the code differences between a garage conversion and new construction:Coastal Overlay Zones – If your property is in a coastal overlay, building a ground-up ADU may require Coastal Commission review, which can add time and complexity to the process.

The capital loss would be calculated as the difference between your original investment amount and the amount you received back (in this case, 10% of your principal).