Further, as of the end of 2019, some additional restrictions were: 1) The homeowner must live onsite of the STR (no living next door or somewhere else in the city); 2) You can only rent out up to 2 BRs max of your home to 2 adults and accompanying minor children; 3) No whole-house rentals; 4) STRs cannot have their own kitchen space; 5) Homeowner must keep a record of all renters over the past 3 years; 6) Backyard cottages (or other Accessory Dwelling units (ADUs)) can NOT be used as STRs; 7) You must notify your neighbors and apply for a permit to operate as a STR. 

Right now my credit is in the low 600s (made many mistakes as a new adult) and my lease is coming to and end in September.

I have 3 adults children, 1 teenager and 1 grandbaby. 

Account Closed -- I haven't entertained taking out loans on my existing properties but that might be something to explore.

After a few months, I started requiring an application fee and credit/criminal background on every adult.

If I left some of the deferred maintenance, and focused on new beds and more attractive decor, the costs are relatively minimal.For financing, I'm looking at a commercial loan - would probably have to put up the 25% down myself (I don't have any friends or family with money lol)As for management, my adult sons will be taking it over from me soon after acquisition.

. $15k is very thin and I wouldn’t entertain going into a deal for possible $15k profit, unless it was a couple week, low cost job. 

Now I can't stop listening, you guys do a great job of educating and keeping every podcast entertaining and fresh.

Check out this link to a floorplan by Lennar, one of the country's biggest builders. https://www.lennar.com/new-hom...People seem to be drawn to the flexibility of ADU floorplans as they can use the space for all sorts of things: home office suite; room for an older teen; adult child living at home; In-Law unit; Airbnb; rental...

May be a little tight quarters with 6 adults though.