I wanted to get started in real estate investing and knew I could qualify for this home and convert the basement into a rental unit so it was the right house to start with.

I could go this route, but since this is California, I'm wondering if it's better to get more personalized help closer to home.I'm also happy to consider non-Bay Area alternatives (with meetings done over Zoom) if anyone has a lawyer they particularly like.Thank you for any advice and recommendations!

Unless I missed something, that isn't worth the hassle and I'd just get them out of there as quickly as possible.

How do you feel about a $700k purchase price with a non owner occupied 4plex DSCR loan 3yr prepayment penalty, 10yr interest only 30yr fixed after$560k loan amount (20% down)7.750 par rate with no costs. monthly payment $3,616.66Or pay $22,295 in closing costs and get a 6.375% Monthly payment of $2,975The monthly payment difference between the two is $641.66And when you take $22,295 in closing costs and divide it by $641.66 that will give you 34.5 months (2.89 yrs) to break even if my math is correctHow do you guys feel about taking a lil less than 3 years to break even on $22,295And the seller is giving me $15,500 in seller concessions  thank you everybody for your help!!

The probate was cleared, and we were ready to close.

So basically my best options are to keep things simple: rent out the property as a whole in the other state or buy a house in my state and just get some roommates?

Do you have any tips or resources recommended for getting up and running for a newbie landlord for just a room rental?

I'm able to get hands on with my investments, and also vet all of my tenants.

While both are dependent on the bank / lender, getting a HELOC on an owner occupied loan is more feasible than getting one on an investment property.

I've done it the traditional way of using my credentials; credit, job/salary, personal info. to getting a FHA loan.