And why do they care if they have to pay taxes since it is an S corp, if they don't plan to sell it? 

Start with calling the planning dept at the city to define the zoning and allowed density 2.

Tonight is the night, after months of work with the state, county, and city we are presenting a site plan for the city's approval and zone change.Normally, I would not pursue a zone change but when I originally went to the city and proposed storage units based on its current zoning they said they wanted more houses.

- How many personal use days (sometimes including family or other discounted renters) do you plan to have? 

I'm planning on acquiring a HELOC on my primary residence to help me with the down payment/expenses of my first investment property. 

Cheers,Devaughn Welcome to BP - sounds like you have a great plan and story!

Granted, change is inevitable, so I'm always planning ahead for likely changes to come.Good luck, Seth.

I know there would be many other factors on how to manage the money here.It's a difficult time, just trying to formulate a plan. 

Also, if you're planning on trying to wholesale the property, you really shouldn't be targeting REOs as the bank isn't going to let you assign the purchase contract to another buyer.  

The golf sim is cool but not $100 a night more cool.The ADU is the better plan, but you need to check your zoning before going too far on it.