I bet you have looked at quite a few properties in your time. 

You can expect to pay a little more for being a new investor when it comes to rate and points, but as long as it's a good deal, you shouldn't have any issue getting the funding.Hope this helps a bit - please, feel free to reach out anytime if you have other questions or just want to chat about the ATL market!

I do not really have any time to read books as I work full time, run a motorcycle shop, raise 3 young kids, and self manage, among other things. 

I'm sure there's still the risk of getting sued even with commercial lending but I bet it's less than the residential side.

You agree to lease the building for X number of years and have the option to buy at the end or at anytime for an agreed upon price.

Since I am paying rent in LA(and will be working here 5+ years), I’m thinking that getting a duplex/triplex etc and living in one unit and renting out the others, living mortgage free, or as close as possible, is my best bet to start.

@Dakota Shuck I think house-hacking would absolutely be your best bet.

It sounds like your best bet is to pursue a HELOC to finish the ADU and then submit a cash-out refi for the long term 30 YF financing. 

If you are going to park the money as a downpayment in a rental and not pull it out any time soon, a 30 year fixed cash out refinance is your best solution here.Please let me know if you have any more questions on this!

I would argue that excessive holes isn't expected in a property, some here and there are okay, but when you have dozens on walls, that's excessive.My question was focused on the seller's making the claim that these were pre-existing, yet no evidence was provided at closing or anytime post-closing that these were pre-existing.