.: Hi all,I'm planning to buy my first long term rental, a single family resident in the next 3-6 months.

I found a house in coddo mills that is around 300K and I need to pay $300 every month from my pocket after renting out that house due to current high interest rates (25% down payment). 

The property damage protection is appealing and the 4% monthly isn’t bad.

I started my PM company a few months ago with 5 properties projected to bring in 400K a year with our company projected to bring in 70K in gross revenue. 

The buyer will agree to pay some monthly amount higher than the market rent, to offset the cost of the property when the purchase happens.

Rents on the low end are $150 a month uncovered.

My main goal is to house hack and make my monthly expenses as low as possible.

Time to recover investment: around 10 years if I rent it for $1700 - paying cash.Cons:Impact on Primary Residence: Construction can be disruptive, foundation is old, and having tenants nearby might affect privacy.Time to cash: The rental income will be delayed by at least 6 months as I'm building the ADU.Tenant risk: California is tenant friendly and eviction can be difficult.

Honestly, I'd give it a few months.

Then when I have a good conversation with an owner I set a follow up reminder to call them back after a month or so