I literally pass land everyday that could make a million or more just by building a house on it...

If they are savy enough to follow through, you'll save yourself a bunch of money by paying them now.

My go-to metric is the "5-year annualized ROI" provided by the BP Calculators.

They like cookie cutter, by the book deals that fit their box. 

For instance, if a sponsor’s in-house PM charges 4% when the market rate is 2.5-3%, you need to assess whether those additional costs are justified by superior performance or could erode your returns.Ultimately, it's not just about the numbers or the spin—it’s about the expertise and judgment of the capital allocator.

I have a gutted carriage house on the back of my property, so my thought is to get my feet wet with house hacking by creating space for a longterm tenant. 

Learning by doing.

Multi-Family may require more maintenance (Con) but that cost may be offset by installing a coin-operated laundry room (Pro)3.

A general credit line, on the other hand, could be secured by other assets or unsecured, and doesn't necessarily involve your home equity.HELOC Characteristics: - Uses your home as collateral - Usually has a lower interest rate than unsecured credit lines - Typically has a variable interest rate - Allows you to borrow up to a certain limit, repay, and borrow again during the draw period - Can be used for various purposes, including home improvements, debt consolidation, or as an emergency fund While it's possible to use a HELOC for RE investing or rehab projects, some lenders may be hesitant about this use.

I would contact other facil and see if they are looking for more spaces. 2) Co-Living / Rent by room strategy - I would try to turn that half bath into a 3/4 or full and then it could work very well.