@Jim T. if your unit is not a single family home or a condo then it is already under state wide rent control (AB1482) which will limit annual rent increases to 5% + the Consumer Price Index.

@Andy ThompsonYou’ll fined the full array of answers from the minimum requirements to the absolute best assemblies available today with matching price range for each.

The redundant phrase “close proximity” is widely abused in real estate circles and is probably too far entrenched for IRV to reverse – but we will keep fighting the good fight – proximity is sufficient folks!

We are acquiring 2 acres not too wide but deep.

That could vary widely since I'm not familiar with selling Real Estate in MI, but 8-9% of the total value of the house is very likely double or triple what you'd pay in closing costs on a refi (again, just a guess). 

Also not considered LA City from a rent control perspective so better upside under the recent state wide legislation.

Hi Damaso,SB-50 will be state wide if it gets voted in. 

Up to this point I’ve only been involved in the retailing aspect of RE, so reading some of these threads like this one are awesome, because they allow me to go into this part of RE with eyes wide open.

It was 11 acres with a double wide.

There is such a wide range of options for everyone in this game!