Hi Jasmine-Congratulations on being ready to turn your primary residence into a rental.Your question is should you use a property manager or self-manage your property.If there is enough positive cashflow or you can afford to pay a property manager, I always recommend doing so for the following reasons:1.

Hi Allen, that’s an exciting position to be in—$500k gives you a lot of options! 

This initial negative equity position consumes the initial cash flow.  2) the addition of the adu makes the property multi family and likely makes rent control apply.  

Does anyone have experience of setting up a STR while in the same position? 

Zach’s tone was very, “this is not an issue on us, it’s your criteria that renders you in this position”.

There is now some positive cash flow (not much considering the value of the asset, but a lot considering where the initial cash flow was).  

As a reminder, listing tenure positively impacts your performance on our marketplace.

By the way - for the same reason the 1st position lien holder will be uneasy with 100% CLTV, as a buyer I would be uneasy with it as well.

The cost to build will be significantly more than the amount of “value add” of an ADU putting you in a negative equity position.

There was also a post about preREO on BP recently which I believe is also under Jorge and those comments also were not very positive.