Hey Pratik, I'm personally not a fan of new construction because there is no value-add. It's

The board is new voting on covering the additional 25% next year.

In addition, if a property owner decides to replace a carport or driveway with an ADU, they would not be required to replace that parking."

Additionally, not everyone is borrowing from a commercial bank.

The max qualifying DTI is 48.99% which includes your housing expense and all other debts on your credit report.

This can help cover your mortgage and potentially generate additional income.Partnering: Look for potential partners who may be interested in real estate investment.

This article indicates that a chapter 13 allows them to maintain possession of the property and develop a plan to pay back their debts rather than be foreclosed on.

The other owners would sell you their shares for the value you agree on, and the loan funding (your new debt) would be their proceeds.

It's been rezoned to allow a live/work component, allows 4 units, and the FAR allows room for plenty of additional SF. 

Additionally, I'm based in Michigan, and I would like to know if anyone in the community is familiar with companies or professionals in Michigan who can assist in the process of forming an LLC and managing the legal aspects of transitioning Airbnb properties.Any insights or experiences you can share would be immensely helpful as I navigate this potential transition.