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.

Includes a single family home (4 br) which was divided in two sections one of which is being rented.

Start with your current lender on your home and see if they will give you one.

I'm in Detroit now for inspections on one and to generate the scope of repairs on the other.

One option that has worked for us is taking out a loan against your 401K. 

Purchase price: $424,500 Cash invested: $20,640 I purchased a small detached duplex that I plan on moving into one and keep the other as a rental.

Has any one done any business with Ramm financial?

Are you sure there is no one within 10-20 miles who would like to make money cleaning it and checking on it? 

The one negative from this month’s report is rent rates, surprisingly went down.

One thing to remember is that even within a specific market there can be subtle differences in areas.