I was thinking of getting licensed to supplement income.

And since this is my main income source I don't mind spending some time on it every week.

The expected rental income is $925.

You acquire more capital in your position by (1) decreasing expenses, (if possible) and/or (2) increasing income.  

Doing all 3 scenarios here would cost about 1M$ to 1.2M.The numbers are:- Purchase price: 1.5M$- Current mortgage: 65% LTV, 2.55% 30y fixed- Property taxes: estimate 25k$/y- Current rental income from two 1bed/1bath units: 2200$/m each- Previous rental income from the 2bed/1bath house: 3600$/m- Property mgmt: 12%- Quote for garage ADU conversion: 500k- Quote for remodel: 400k- Quote for JADU: 300k- Estimated rental income from ADU conversion: 3500-4000$/m.- Estimated rental income from remodeled house: 5000-5500$/m.- Estimated rental income from JADU: 2500$/m.Concerns we have:- There's no comp in the area that sells for more than 2.5M for a setup like this.

I didn't choose this profession per se; I'm actually disabled and needing to do this to supplement my income (although I have felt immense appreciation for the good tenants and proud of the way I continue to learn).Now I am in the process of my first eviction with regards to my current basement tenant (they're just not paying me rent, everything else is fine with this person but their financial excuses have been hard to keep track of since the beginning).  

With 200k in cash flow every year, you should be able to turn and use that income each year to buy more properties, but is that what your dad wants to do at 60?

Why I Love Student HousingRent Premium - Students will typically pay 40-50% more in rental income than market rate housing.

Will the two of us in MN get taxed twice on income tax for CA and MN?

Just curious as there is always some other nifty piece of software with its hand out to reduce our net profits