Hey @David Cherkowsky my wife and I house-hacked just outside Alexandria (in the Fairfax County side) and now are in City of Alexandria in the West End.We went the walkout basement route but have friends who did rent by the room (they're past clients of @Russell Brazil). 

What they do is offer a policy to the underwriter of the title insurance company.Is this the best route, or should I hire an attorney to get a quiet title? 

If I go this route, I'll be paying interest payments personally. 

Hi Sonny, FHA is a great route to go with especially if you want to use the lower down-payment and generate income.

The one thing I agree with is that you are competing with a ton of properties if you go the condo route (referring to your comments re: the Panhandle).  

I could go this route, but since this is California, I'm wondering if it's better to get more personalized help closer to home.I'm also happy to consider non-Bay Area alternatives (with meetings done over Zoom) if anyone has a lawyer they particularly like.Thank you for any advice and recommendations!

If the tenant has assets that you believe can be easily seized, this is a good route.  

They said it was a lot easier and better to simply create a new LLC to properly match what you are trying to do.  2) So, that is the other route, creating a brand new LLC.The PartnershipThe hardest ship to sail is a partnership, and there is no "fairest way" to do things. 

The three reasons sellers typically choose the off-market route are privacy, potential savings, and price testing.

I wondered if SF route might allow us to secure better terms at maybe a 4% interest rate for a few years on the funds not rolled into current $150k potentially assumable mortgage -- and in a few years we could roll into a traditional mortgage.