My question is if my mortgage on the property is say 350 and it's renting for 550 won't I technically be negatively cash-flowing due to the probability that the 40% cushion initially factored into the deal will probably cause me to have to put a small amount of money in monthly?

My experience has been that new investors have 4 main concerns that have to be resolved before they will invest: 1.

My main concern is that I will be making about $350,000 profit on sale and not sure how the transferring to an LLC will affect me tax wise.

One of their concern is capital gain tax that they incur due to the sale.

At the same time, IL/Cook is not doing good financially, so I'm sure it'll just go up.Declining population is a concern also.

I read that airbnb is in grey area in california with legalities changing every day, so that's my concern.

Have my mother sell me the house (This would probably cause my mom to have tax issues, with capital gain)?

Engineering - you'll need an engineer to lay it all out and help with permitsMaterials and Construction costs will varyUp North - winters can cause delays - will this be a seasonal park?

Hey @Joseph WrightI don't have any direct experience with pre-existing MF now zoned as single family, but I am aware of situations where the sale has caused trouble with the grandfathered in non-conforming use.

However, the level and sources of debt you have could cause issue.