For newbies, I recommend starting with a turnkey cash flow rental.

I borrowed $30k on a personal loan from Discover for 15% with no fees for a plot of land and paid "cash" for it.

Stack up the cash flow and dip into that as needed to support the asset.

If you're open to expanding your search, I also recommend checking Columbus OH - lots of deals that still bring positive cash flow and great appreciation potential.

I have all 3 phases for clients out of state: helping you locate and buy the correct buy box for success, a world class designer and furnishing team to create a top listing, and I also co-host property for clients at a discounted rate to ensure you’re getting as much cash flow as possible.  

Alternatives include using a 1031 exchange to buy a new rental property or completing the exchange first and then doing a cash-out refinance to fund the ADU.

Ohio is a great market to be invested into as you can still find positive cash flow (aka the 1% rule) and tons of appreciation here!

Good to know as I have a property coming on the market and we had one off market offer already all cash but at 10% list price discount (which we most likely will reject).Curious if you think the california fires will assist the market since many of those people need places to live for years and I am guessing some will flee california?

Thanks for the feedback; some quick stats: 9 doors across 4 states, about 50% LTV ratio with a Net Income of about 17% and cash on cash of about 3%.....in fairness those numbers include some overall business expenses not tied directly to one specific property.

You have to be able to have the full amount in cash within a few weeks of the auction.