I was quite happy she bought a home to move her hoard into even though she had no problem paying my rent (her ex-husband was a highly paid engineer at one of our plants and gladly paid a huge amount of child support and alimony to her each month just to get out that marriage).At any rate, it would be a good idea to add all children (especially the older ones) to the lease since you are unsure if they are nearing the age where they might be considered adults. 

In terms of the value engineering you're talking about a friend mentioned to me doing construction is spec'ed to be 24” on center studs instead of 16” - and other cost saving tactics like that.

I'm an engineer,not a salesman, thus I despise hard sales as much as anyone.

Do consider your own lifestyle and what it will mean to have a renter sharing the space you currently use privately.Only other thing I'd suggest you think about: the greatest engine to REI success is probably the fulltime job

I am a full time engineer with the goal and determination to build a future for myself and family through real estate investments. 

@Keagan RubelTry to find out the local attorneys and engineers that are plugged into the town politics and will know how to get things done at the planning level.

Ideally I would take that cash and start up the BRRRR engine which will help you turn your small chunk of cash into 1-3 additional rental properties per year (depending on how quickly you can renovate them).

I would like to see a new house built in 4 months including finding the land, making sure you can build what you want on the land before you lock up the sale of the land, get blueprints drawn up get the blueprints approved by the building department, break ground and have tenants move in be the end of the 4th month.In Palmdale California in Los Angeles County, in 1985, it took me 18 months to get permit and engineering to extend a super simple kitchen only 6 feet and the cost for the permits and engineering and soil report cost me $18,000.First of all, I don't believe in doing flips and prefer to buy and hold, if you have enough money.

You've got potential delays for builders to do a site assessment for the buyer, potential delays in having a soil engineer available for a soil study, etc etc.

Investment Info:

Single-family residence buy & hold investment in Lakewood.

Purchase price: $852,000

Cash invested: $42,600

My personal home, rent out JADU. PITI = $4520, current JADU studio rent...