If this is an investment property Fannie can't do this type of loan.

New investor here looking for some advice - I’ve realized that my ideal property is a home with some type of ADU so that I can rent out the main house long-term and use the ADU for short/midterm rental. 

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To assess what type of upgrades to do and which will return for you - do some research into what other rentals in the area are renting for and scope of renovations they have - i.e. if the comparable rentals all have painted the 1970 cabinets - then you can do similar and not drop $40k+ on  full gut/ remodel.

Purchase price: $150,000 Cash invested: $30,000 First investment property What made you interested in investing in this type of deal?

What made you interested in investing in this type of deal?

What made you interested in investing in this type of deal?

I would recommend if you are starting out, either narrow down your definition of where and the type of property you want to invest and find the investor to fund it, or the type of investor you're looking for then seek the properties they will invest in.

What made you interested in investing in this type of deal?

He didn't show the same type of integrity he did with his property and the properties he owns with his sister.