If you rent, consider up to 96.5% LTV owner occupied (OO) vs 80% LTV for conventional non-OO purchase.  

These loans typically require a 20% to 30% down payment depending on the scenario and DO NOT allow for owner occupancy since it’s a business purpose loan, so you’d have to rent out both units.

Hey everyone, I am in Vero Beach, Florida (on the Treasure Coast) and am looking to make the previous owners garage conversion to living space into an actual separate ADU.

You can look up cash buyers on propwire free, and reach out to the LLC owners by looking them up, or call the agent and ask them.Another option would be to find some private money lenders, and get them to go down on a hard money loan with you, unless you can get all the capital from one person alone (this is very difficult because most people won't loan that much to someone new to real estate). 

If the software is not simplifying your life or making you more accurate, you shouldn't use it.Software does have extremely helpful features like online payments, marketing syndication (click a button and your property is advertised on multiple sites), electronic document review/signing, maintenance tracking, and owner reports.

I thought that, at least I could deduct property taxes, Interest, PMI and Home owner's insurance.I am being told that, basically, we have to treat the entire rent check as taxable profit because of our income.

I market direct to owners.4.

My wife Andrea own over 100 rental properties in Metro-Detroit...We chased this 16 unit down for TWO YEARS before finally getting the owner to sell it to us back in 2022.It had A LOT of work that needed to be done:- Tenants weren't paying rent on time or at all.- Units were completely outdated and had deferred maintenace.- It needed a community face lift and re-brand (was called windmill apartments....yuck.)We came in and strategically worked our business plan:- We upgraded the exterior including fresh paint, signage, and landscaping.- We removed delinquent tenants and changed the community standards around to provide a safe and clean place of living.- We've upgraded 75% of the units with fresh flooring, paint, cabinets, countertops, and appliances as needed.When we took over the property the 16 units were producing around $9000/month in gross rent.I just checked our rent roll today, and we just crossed $17,000 in gross income monthly!

We require co-signer to be local and a real estate owner, so that in case of default we can lien their real estate.

But to manage for others I decided to subscribe to Propertyware which has accounting built into it as well so my QuickBooks is redundant however I keep QuickBooks as the backbone of my accounting and Propertyware as the tool that reflects accounting to my tenants and property owners.