Depending on the size of the ADU vs the main property, you would probably be looking at either a "heavy rehab" loan - or a "ground up construction" loan.

The portfolio of homes would do a lot better if the rates weren't trash, and since they are a bigger pockets member they became aware that you can wrap up a bunch of single family homes into a single commercial mortgage (sometimes called a "Blanket Mortgage"), generally if they are geographically concentrated.

Lots of reasons for this. 

Transparency, I thought I would never be able to afford Alexandria either.We showed up to Old Town Alexandria and started renting. 4 months later we found an affordable house in Woodbridge we could get into for a year with low down, then rent it, in the mean time we recoup the capital from our other 2 properties to go buy again after that 12 months.

They finally gave up and decided to rent out their home for $11,000 a month and ended up with a squitter and another article about them https://therealdeal.com/chicago/2024/09/16/homeowners-sue-pr... 

That’s with a property manager handling everything and after their fees and reasonable repairs and vacancies baked in.

I’m currently unemployed but have managed to save up about $90k that I want to use to buy a home.

The amount of digital ink that is spilled on this site about LLC's and how to set up complex structures  by folks who can hardly be called investors is a bit maddening to me as it keeps folks from actually investing dues paralysis by analysis due to things that really do not mater a great deal.

The condo's were worth 1/2 that at the time.The assessment on the one we were looking at was about 35k and based on the purchase price, we felt was reasonable for us.The thing that turned us away was the fact that a single family owned about 60% of the condo's in the resort.

Hi @Kim Allen,So far, a few of the insurance options that were suggested weren't viable for me because of different reasons, i.e.