I'm happy to not maximise returns in order to have the passive income. 

Here are some steps and considerations to help you make an informed decision:Evaluate Cash Flow: Create a detailed spreadsheet that outlines all income and expenses associated with the property.

@David Cheng - So, SBA requires 51% of the income be associated with the owner-occupant. 

A lot of people think they can buy rentals and claim ACT 60 only to find out that rental income is earned income.

Firstly, conventional loans now allow for ADU income to be counted as borrower income for financing.

My dad is retired and his credit score isn't the greatest while my credit score really good and debt to income is pretty low right now.Mortgage Owed: 118,000Money to Seller:  75,000Est.

I started my online classes in January and passed my RE exam March 1 of this year. 

It has no income, no assets, no credit.

The title company isn't willing to help resolve the situation at all, and they are recommending that I get a survey to clear up where the boundary is with the neighbor.When I look at the GIS online, I find two different ones.

Expect your loan to be underwritten using an appraisal that is based on the markets long term rents, not the higher income you presumable expect to collect operating as a STR.