Due to item 1, adding an ADU can require years to start achieving any return (once the accumulated cash flow recovers the initial negative position).4) Adding an ADU is a slow process.

For this reason many states will treat installment sales contracts as mortgages and require a foreclosure process.

Many Realtors will fill out the paperwork (like the MLS data input / property information form) for their clients but never read the fine print.

I also have a list of lenders that I have worked with in the past that I recommend.In both cases, when I was approached by them to purchase a home, they had very little knowledge of the home buying process, they were definitely not ready.

For example let’s say in your market a water heater replacement costs $1k (my market is ~$1500 if using license plumber but our water heaters are different and more costly) and last an average of 12 years (our actual data going back almost 50 years places average lifespan just under that for gas water heaters).  

Once you have the data, you can make better sense of After Repair Value of the property, then decide to cut your loss or hold/rent it. 

I also look at data from AirDNA but I'm uncertain about its accuracy for my area.As this would be my first time doing short-term rental, I would like to gather insights and feedback from the community at BiggerPockets, those who own properties in my area.

But, maybe that is just the way this particular lender integrates data...

Yes it was rent for three months and then tenant had to go with eviction process for not being paying rent due to job loss.

I’m a registered nurse in New York City, new to real estate investing currently in the process of learning and building my knowledge base to make my first real estate purchase.