Buy an existing house to live in and add an ADU in the back.

The two existing LTR units (on my family’s property) were built 5–8 years ago at a cost of about $80,000 per unit, so I’m estimating a 20% increase in costs for the new builds.My plan is to use the equity in the land as the down payment for the construction loan, which I expect will make closing costs the primary upfront expense.

In the case mortgage foreclosure, I usually offer to pay for the existing mortgage and give them a little extra to move.

I'm thinking of selling my personal residence on a wrap, but I wanted to see what you thought about these approximate numbers (rounded for simplicity):$140k sales price$30k down payment from buyer$95k owed on my existing mortgage @ 4.875%$550 P&I monthly payment ($650 w/ taxes and insurance)Seller finance the $110k left w/ a wrap w/ a 3 year balloon.

So far, nothing.The point is that I believe people spend a lot of money, time, and effort protecting themselves against a non-existent threat.

There’s no risk and all reward because if somebody can’t provide ID, they’re not going to be able to rent from me anyway.  

The fact is that these laws exist in many places, including Salt Lake City, Utah; Logan, Utah; Hartford, Connecticut; and Newark, New Jersey.

@Jared Haxton You are not going to be able to do an owner finance transaction without paying off the existing loan.

I'm not even sure something like that exists.

You can often get better rates with a national lender, but the customer service is non-existent, communication probably sucks, they may ask for the same documents multiple times, etc.