I was in the same boat, bought our first rental with a newborn.

I think he had a lot of party friends and they did sort of crazy things with boats and cars but no one got hurt and some of the neighbors got a kick out of them . 

Freddie Mac just came out with an update last week letting homeowners use the income of the ADU as part of their qualifying income.My clients are in the similar boat where they want to purchase a MF first and live in one unit using an FHA loan.

We live on one of the only lakes in Broward County where you can have boats with motors, and we are adding a pool and spa, outdoor kitchen and patio with roof, as well as converting our carport and pantry/laundry room into a master suite.

@Pam Wils I am in the same boat except I'm working six to six in a job with copious amounts of free time.

Umbrella is good because you can merge your assets like cars, boats and homes under your umbrella for added protection.Basically if you don't use an LLC, definitely get an umbrella insurance.

I was in the same boat, which once again proves behind every successful entrepreneur is a spouse with a W2/income/and health insurance lol! 

I'm also in the same boat, currently up in the Bay Area but thinking of moving down and doing a house hack down in the greater LA area.

Build a wall in the shop that lets the guests go into the shop but only to the access to the outside patio.Or I could simply let the shop tenant access the bathrooms and set up rules and let the guests walk through the shop.Last I could just not rent the shop and let guests park cars or campers or even RVs in it or possibly put up pool tales, ping pong tables, roller skate, etc. in it.One other idea is maybe just do storage of boats and RVs in the shop with no other uses.What ideas or suggestions do you have?

Hi Andre, I am in the same boat as you.