@Iyan Tan I would actually guess the $80K is his net. $7,000/mo is $84,000 in annual rent.

ok so seems like this has turned into 'she's trying to raise the rent bc she's not invited to the parties' so I guess I will take a few minutes and make this clear: I don't have time to go to a party every Sunday or even one Sunday per month. 

@Derek DiamondThank you Dereck,I have a good realtor/pmngt/and also investor on my side always teaching and helping me along the way.I guess what i was trying to ask was for any good advice on how to start on the multifamily route?

Generally anything built after October 1978 does not fall under RSOCall LAHCID - they have a pretty good information call center to find outMy guess, since ADU are fairly new, not many have the answer Let us know what you find out

I guess only to reduce a rate?

@Ryan Wamsat If you'll PM the address, I'll look at the home, history, area, rents, etc and see if it passes the smell test.From the numbers, I'd guess that you're looking in either the South Coast (Fall River / New Bedford) or well west of I-495.  

@Brian Ellis I guess I'm surprised sellers sign contracts with such contingencies, but I guess when you really wanna sell you'll take your best out.

I'm guessing they are similar or the same fee.I wouldn't worry about nor copy your neighbors. 

So I guess I have a follow up to your response. 

Based on the question, I'm guessing you are not a broker.