Business wise the smart move is to get a permit and build a proper separate unit in the basement.

Fine if you can afford the loss, I actually do that on the little ones, but it's not very smart if you can't afford to cover things if they go south.

Hi @Kevin Leslie,Smart move, monetizing your overhead at first as a Real Estate Professional.

Maybe she's beautiful, kind and smart, but how would you really know?

The investments are a mix of commercial property deals (self-storage storage, grocery anchored shopping center, small hotel, NNN developer misc parts of country).

It's not frugal or smart), I enjoy all the modern amenities in life (I eat out a couple times a month using Groupon or other deals), I have a newer Ford Focus in mind condition (yes we are a 1 car family!)

Well, if you are smart (and I think you are) you are going to put insurance in your name as the new owner to protect yourself.

I would sell it and take your TAX FREE  profit then shop around PDX and buy something else ... since your moving to another owner occ that I think you said you inherited.lock in the gain now thereby saving 50k or so in tax.buy a nicer bigger rental type property.. you can now buy a small  multi in pdx or close in. cash flow will be greater.that's one school of thought.I know personally the tax free sale of my personal resi's over the years have netted me far more than cash flow would ever have. by probably 20X...

He sends me back a text, all huffy, about how it's not real smart to deny a qualified renter by electronic communication, like he's making a threat.I told him, unless he's a member of a protected class, i can tell him to take a flying %$#@.    

A house hack is incredibly smart for a first investment.