I left biglaw earlier this year to take an in-house job with a (MUCH) better lifestyle but lower long-term earning potential.Household Income: $365 guaranteed, $440 if I hit my bonus and include our rental (bonus is a target of $60k but is not guaranteed, rental grosses $15k though we net less after taxes/expenses)Net worth: $1.15M: Cash-$390k, Equity in existing rental (out of state)- $200k, college savings $30k and retirement accounts - $520k, no debt (both cars owned outright and rental doesn't have a mortgage).Current Housing – We live in a HCOL where we rent a 2bd/2ba condo for $3.1k.

I am currently adding a new build to an existing property in downtown Phoenix.

Hello,I am curious if anyone has done a 1031 exchange with an existing rental property for their primary residence and converted that property to your investment. 

I'm seeking a loan that will allow me to aquire a property, do some light rehab to the existing single family home and also provide sufficient funds for the construction of an ADU in the back yard. 

Acreage, existing cash flow, value add opportunities How did you find this deal and how did you negotiate it?

Acreage, existing cash flow, value add opportunities How did you find this deal and how did you negotiate it?

My understanding (doublecheck) is that existing STRs are usually 'grandfathered' in most cities.

We will be renting out the 3 bed side for $1100 once the existing lease expires.

I am looking at doing a conversion of an existing 6,000+ SF residential property (currently used as offices) and converting it to multi family (6-8 apartment).

It also doesn't hurt that despite being in a very tertiary and saturated market, it's hot right now and I'm the only one with space available.I've raised street prices 3-4 times so far this year, and as the cold weather gets here, I will review my current tenant accounts, and start bumping those prices up as well.