@Robert AlexisMy question is why are you spending money on an appraisal and inspection if you over bid on the asset and know it will not comp ?

Local Banks and Credit UnionsSometimes, local financial institutions offer innovative lending products tailored to the needs of their community, including renovation-focused HELOCs.2.

Then there's the remaining assets in each of our custodial accounts - looks like we'd also be paying annual fees to both that custodian and the new LLC custodian..

I'm in the same situation where I would like to make sure my LLC is set up with privacy, not only for being sued but also so that the city doesn't personally find me responsible for code violations.Check out some of the asset protection webinars from Anderson Advisors. 

Couple ways to size an umbrella policy, 1 is to analyze your assets and do it based off that, but I have always preferred to do it based on what is an amount that guarantees my insurance company would want to defend me. 1 million to start is pretty popular.

Consulting with a tax professional or a financial advisor is highly recommended to navigate the specifics of your situation, especially to optimize tax benefits and ensure compliance with current tax laws.

If the financial risks associated with Option 1 are within your comfort zone and you're confident in the rental income covering your new debt obligations, this could be a viable path given the potential for immediate home appreciation and avoiding multiple moves.

If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.Our OPINION for the Metro Detroit market (always verify each area for yourself!)

I’m financially free due to my investing over the decades. 

And knowing that it will probably be more weathly people that have (a) the land in the back yard (b) financial means to put up an ADU you are potentially restricted on who would WANT one in there back yard.This is the whole flaw with this (SoCal) idea and not your business plan.