This setup alone feels like a solid foundation for financial freedom.Here’s my dilemma:While I understand that my mortgage interest rate is very low (2.8%) and there are tax benefits to carrying the debt, I’m wondering if it might make more sense to aggressively pay off the loan.

The benefit to these is you get your foot into the door without a ton of capital and as time goes you can move out and cashflow on the property.

And of course, take advantage of the tax benefits along side my current business income.Viability of the idea?

@Clifford Pereira You can claim Real Estate Professional (REP) status on federal taxes but not in California, as the state does not recognize REP benefits.

With the city contemplating expanding the ADU ability to city wide, is there any benefit to doing a rezoning now (assuming successful) before the citywide expansion takes place?

From what you’ve described, it sounds like you’re more focused on long-term appreciation and future benefits rather than immediate cash flow.

I’ve heard this can have benefits, but I’m not sure where to start.If anyone has advice on how to proceed, I’d love to hear it!

Include a buyout clause allowing you to transition to sole ownership after two years, based on a pre-determined valuation formula or market value.Use an LLC to hold the property for liability protection and pass-through taxation, ensuring both partners benefit from depreciation to offset rental income.

Your relo benefits will likely govern this decision more than other factors.

Our sincerest condolences to all of those impacted, we have dozens of friends and colleagues that have directly or indirectly lost everything and several have evacuated for reprieve to our communities both north and south of the border.