I've lived in the OC pretty much my entire life. 

Purchase price: $560,000 Cash invested: $55,000 The strategy going in was part live-in-flip, and part ADU value add.

Hi BP Community - I've had a few coffees with local investors in recent weeks, and have really enjoyed the conversations.

It helps you learn landlording on-site and also offsets the costs and your living.

If your co-worker is open to discussing the issue you should write down your questions and then ask to set up a time when you can have an uninterrupted conversation.  

And live in one side while using the others as investment. 

Alternatively, you can use the fair market value of the home at the time of conversion"Keep in mind, you will probably want to talk to a tax professional to go over all the consequences. 

I’m 18 years old and live in Longmont Colorado and am currently trying to learn as much as I can about real estate.

Happy to talk details if you want as I live and invest in the Fishtown area. 

This was extremely valuable when I lived overseas and needed to fund asset acquisitions and private placement offers, but now it’s just convenient to take care of banking matters wherever and whenever I please.