Here are some considerations for making a garage conversion into a good apartment:Local Permitting: you’ll want to check with your building department to see if a conversion like this is allowed in the current zoning of your home.

You can also check meetup.com or search facebook for real estate investment groups, clubs, or meetings in your area.

Based on you OP, I would consider keeping $50K in reserves in checking or savings account.

I am a regular listener of the bigger pockets podcast, and I absolutely love it.

- You missed utilities in your holding costs- For your first rehab you should plan on a little more than 6 months, just in case- You might want to double check your tax number as taxes in NY can be pretty high- The biggest area where mistakes are made for new investors when it comes to flips and BRRRRs are in the ARV and the rehab cost.

In California, capital gains are taxed by both the state and federal governments.On the state level, California’s Franchise Tax Board (FTB) taxes all capital gains as regular income.

Monthly the checks come in. 

Hey @Olga Daisel - You should check with a CPA to be sure - my CPA @Juan P.

Now don't get me wrong I certainly have an idea, but just checking to see if I'm on the right page?...

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