You wire funds to a company that is in the business of building buildings, they create plans, get permits, raise additional capital, supervise construction, supervise filling the building with tenants, sell the building to an institutional investor, and if everything has gone to plan then there will be a significant profit and they wire you back more money than you put in.

Permits take 3 - 12 weeks outside of the historical districts.

g=173096))Housing supply shortage: # new jobs per permit issued >1.5 (based on https://www.nar.realtor/research-and-statistics/housing-statistics/housing-shortage-tracker)Rent affordability <.33 (based on https://www.zillow.com/research/housing-supply-32743)Housing affordability <.40 (based on https://www.zillow.com/research/housing-supply-32743/)Based on these criteria I got 3 cities: Raleigh, NCCharleston, SCSan Antonio, TXI would love to know your thoughts on this methodology.

Hey Bruce, I wanted to point out one other potential option that hasn't been voiced, it works in Denver for me but check the rules in Littleton specifically with your permit.

You should have $150k in mind though so you're prepared for worst case - and also to allow for soft costs (permit fees, etc.)$75-90k is typical for a garage conversion ADU in Sacramento.

How much cash have you already injected into the deal including soft costs like architectural fees, permitting, etc...that you can document.

However, the previous landlord permitted them to take over an additional 3,000 square feet on the second floor, which is now filled with inventory and unusable for other purposes.While this tenant has been reliable and has a long-standing relationship with the property, their occupancy of this extra space is limiting our ability to maximize rental revenue.

I understand that you have to apply for state permits for septics, but wondering how many you can install/build on a single property. 

We ran into a bunch of permitting issues from the previous owner so if I can give some advice look for properties that already have a clear CO from the city if you can find it.

Some states require a long formal court process, during which time the person in charge (executor or administrator, aka personal representative) may have certain interim powers to sell real estate before distributing to heirs or beneficiaries.Other States make it possible to get a single court order distributing real estate to heirs or beneficiaries without the need of the lengthy interim (formal) probate.Still other States permit a really informal, simplified method of transferring real estate from a deceased person to their heirs without court involvement.Hence, you you've got to know the State, the basics rules for that State and what's required to purchase in order to know when the sweet spot to market to a probate seller is.