Since beginning I have done one creative finance deal using sub to, one attempted fix and flip, me and my partner own two airbnbs and I have bought and sold many tax properties.

Additional costs like HOA dues, neighborhood maintenance funds, and property taxes over the duration of the build should be factored into your financial strategy.The foundation of any successful partnership lies in a robust operating agreement.

Insurance falls under that umbrella - as would something like a tax lien that isn’t cleared up relatively quickly.

However, due to short seasons, and more mild winters, I'm struggling to think even 3-4 years from now that I'd pull anything more than $50K a year in rentals.Bills / property taxes are about $12,000 a year.The thing is, being single, and not really dying to work in this area (small town), I'm feeling rather stuck, as is all the equity.I'm currently not working, but very much want to move back to Chicago, a place I love, and start buying cash flowing properties.I'd suspect I would have about $900,000+ after all is done if it sold at $950K, considering the vast array of other things I've accumulated (wood splitters, machinery, tools, MCM furniture, rugs,).

We live in Los Angeles, both are self employed 1099 independent contractors, combined annual income roughly 250k pre-tax.

I will give an example, in San Diego at 50% rent ratio (experienced investors should do better than this), the prop tax alone is 20% of the rent.  

If you got the permits and they are recorded with the county tax assessor, you can list them on the MLS, Zillow, etc as a five-bed with ADU! 

They formed all of my entities, prepared my trust and handle my taxes for me. 

A DSCR loan will be the easiest to qualify for as it does not require any personal income documentation such as W2's, Tax Returns, etc.

You could still get the tax deductions...rents will likely go up, interest rates will likely stay flat or decrease slightly, Austin has a great outlook long-term.