One popped up in my neighborhood and several people in the neighborhood informed code enforcement and they shut them down.If you and your wife are good with living in a smaller place to pay down your mortgage faster than that seems like a great idea to me.At some point in the future you could always move back into the main house and rent the smaller unit if you ever wanted to.

A successful short-sale typically benefits the borrower (homeowner) in the following ways: it can give them more time in the house (and payment-free); it is better than a foreclosure from a credit report perspective and wold allow him to obtain a new purchase loan for a new home in the future more quickly as compared to having it go through foreclosure.I would encourage you both to reach out to a local realtor with short-sale experience and have them facilitate the transaction, it would not cost you or the owner the commission as it would be paid out of the bank's proceeds.No, in a short-sale I would definitely not offer any payments to him directly that are not known and approved by the bank, you can get yourself in hot water and probably legal trouble by doing that on a short sale.

This hopefully will settle the debate and add value to us calculating future deals.

They'll be much easier to work with and can also lend you future funds on your deals without all the paperwork and hassle. 

I’m excited to learn and network with other investors and hopefully partner with a few in the future. 

The economy is primarily based on fishing and forestry, which I don't really consider to be sustainable sources of employment in the long-term.

@Drew GreeneWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

It gives you an idea what to do next.And for future lease agreements and contract, even if it's a small matter... write it down and have them sign the agreements along with the lease term. - parking -responsibility/roles: cleaning/ trash/ common areas / parties / pets / guest over / noise level / recreational drugs / etc There are so many things you need it written down, especially in shared housing with a tenant.

@Cody WatermanWelcome to BP, and congratulations on making the decision to invest in your future via real estate.I have written a few blog posts that may help you get started here on BP, and with your investing.

This is an exciting time in the states where these cannabis laws are passing, and we intend to continue to navigate through the surrounding regulatory red-tape to find quality properties with high potential future values.