We plan to share ownership of the property as I am going to invest my money into developing (building a Detached ADU in the back) and re-modeling the property so that we can collectively sell it for a profit.

Have multiple backup plans for any investment.  

I recently purchased a 2 unit property as owner occupied with one unit already rented out. 3 months after closing, I was laid off due to a restructure at my company, so I decided to rent out the other unit my girlfriend and I planned to live in.

So I’m trying to come up with a game plan  Conventional loans do require 25% down on an investment property.

Outside of aesthetics, make sure you have cleaners, maintenance and turnaround worked out so you go in with a solid plan.

Would love to hear more about how you plan to scale up your portfolio and any lessons you’ve learned so far!

Simplify the structure as much as possible, have clear roles and responsibilities that are not overlapping (meaning only one person is allowed to make certain decisions) and a clearly defined exit plan.

I know I can get an insurance plan, but is it worth the headache?

A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant specializing in real estate taxation, business taxation, financial planning and tax planning.Consider working with your accountant remotely to expand your options.I would also recommend looking for an accountant willing to work with you throughout the year.

My recommendation to serious real estate investors is buy an opportunity in any segment, do the math (it's all about the ROI; some investors fall for the 'commercial' is more prestigious chest thump to find that losing money isn't very prestigious at all), and plan on proactively running a business.