You can rent out a studio unit for about $85/night starting out.

#STR#motel#studio

Despite my retirement plan of the Directors Guild of America, my six investment SFRs, my own Residence in Studio City, CA and projected social security income, I am not near accomplishing what is needed to retire (According to them)...

So I just finished listening to some audio CD's on marketing for deals.

Hi everyone, I currently live in North Carolina where I run a small residential design studio but my wife and I own an acre of raw, undeveloped land in the mountains of northern California (we are originally from the West Coast).

Nothing like that in a while that isnt a studio or 1 bed condo.  

I'm looking to purchase a foreclosure as my primary residence as it has a studio apartment over the garage that I should be able to get $1500 a month from while renting my current home for $2000 a month, which would result in a net income of $1185 a month (subtracting the mortgage on my current home).  

The retail spaces could be converted to studio apartments but I don't think he's got cash to do any of the work either.

@Paul Amegatcher I am starting out with renovating a 1 bedroom unit and a studio unit.

For instance, if you have a basement for the furnace, ground space for the condensing unit, and it's a studio apartment...then that greatly simplifies installation.