One bad tenant has less overall impact as the number of units goes up.

Although Plan administrators are required to distribute fee disclosures annually the fees, it takes some effort to find them and fully understand the net impact on your investment balance.Now let’s look at the Pros and Cons of Real Estate InvestingIf you haven’t read Rich Dad Poor Dad yet, I don’t know what you’re doing on BiggerPockets or how you got here.

All those filings and annual fees can get pretty expensive, particularly for someone from CA.I don't believe having or not having an EIN has any impact on your taxes since it will be a flow-through entity, but I'd check with a CPA.

When I signed my second homeRider, I did It through a construction to perm loan on the front end, meaning I signed all closing documents before the build even started and when it’s done It will just convert to a permanent mortgage without having to refi.

The rent in 2019 exceeded 4% of the purchase cost (2020 was Covid impacted so had significantly reduced rent). 

You are correct, no impact on the ARV, but the quotes seem exuberant.

You want to get permanent financing in place so you don’t have the HELOC out too long.

Over the long-term, the performance of the property should balance out the challenges we faced, but some additional repairs impacted our ROI.Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I would live in a unit as primary residence.Talking to lenders about Hard Money to get title. 9-10% non-deductible interest during construction time without the rental income really stings, and is compounded by risk of higher rates for refi at completion of the work.Seems like I should either:  a) plan to race to get plans ready for a Construction-to-Permanent in order lock in a rate ASAP.  

Think of the time around holidays and schools systems that impacts demand.