Great question Aaron, $10k / month would need 1.2 million of equity earning 10% or about 1.7 million equity earning 7%.I think your first step is to educate yourself thoroughly on different passive investments that produce consistent income.

If the structure appears to be closer than 5 feet to a side or rear property line, you may want to hire a local surveyor to conduct a boundary survey, which will produce a site plan illustrating the metes and bounds, or legal property lines.

@Daniel Coleman The plans are copyrighted by whoever produced them.

California Code, Code of Civil Procedure - CCP § 580d(a) Except as provided in subdivision (b), no deficiency shall be owed or collected, and no deficiency judgment shall be rendered for a deficiency on a note secured by a deed of trust or mortgage on real property or an estate for years therein executed in any case in which the real property or estate for years therein has been sold by the mortgagee or trustee under power of sale contained in the mortgage or deed of trust.

. Contact the Planning Department about specifics and procedures at 617‐625‐ 6600 ext. 2500.

When you sold the property as entitled am I correct in assuming that the permit was for the drawings you produced?

Money are not free: you are buying time, it worth every penny.Your Tenants pay the mortgage, interest in it, taxes, insurance and then some.....if you’d saved these money you borrowed, you’d wait 10-15 years to buy that income producing asset.Your primary residence is an exception, however, HELOC on it still let you put downpayment on these rentals.It’s wiser to not think how much banks make on your mortgage but rather understand how much you make off that asset

There is nothing wrong with debt as long as you can produce positive cash flow with it. 

Just wanted to know how does the down payment and procedure work.

If they can't produce a receipt then it wasn't done.