The state legislation (SB 13) and the local guidelines both expressly distinguish between ADUs and JADUs and state that the 150’ applies to both of them, not just JADUs (“The accessory dwelling unit or junior accessory dwelling unit . . . may include an expansion of not more than 150 square feet”).  

@Holly PetersonWe see many lending in a junior position and not checking on status of the first and then the first goes into default and accrues very high interest that eventually wipes them out.Always make sure you understand full picture

Background:I currently am a junior in college who is taking an internship opportunity this upcoming spring with an accounting firm in Dallas.

Originally posted by @Michael Junior:@Yosef LeeHey I’m in Fairfield county CT, what’s up brother!

In elementary school, junior high and high school, my summers and weekends were spent working on my fathers rental properties.

contact senior lender or trustee if you can, tell them your a junior in possession and ask them to post pone the sale for 90 to 120 days so you can do a refinance on it.. 

Unless the land had such a signifacant value like over $500K you might find a private lender to put a junior lien against it if you own it "free and clear".I have seen some private lenders offer a higher LTV even 100% if the collateral is sufficient, but again land is tough to resell unless its commerically zoned in a great location.  

It's actually a great idea, but one you may want to wait until Junior year of college to do.

DSCR requires No income, No Taxes and Commercial requires a PFS, occupancy ratios usually above (90%), Credit scores above 720+ much higher assets for (PITI reserves and overall risk, landlord seasoning, and more.A Heloc can be used in most cases for anything but when you are trying to buy a commercial building which is higher risk, the committee/UW can and in most cases will deny it if they feel you are over extended low assets or with no landlord experience, unless you have a meaty amount of equity to cross collateralize for a junior lien on another property.

Technically the HOA foreclosure was invalid but that is a completely different issue as you never go off tax record to see who owns a property you go off of recorders office and depending on state have to list junior liens in the complaint. .