My bank has 5 branches, a local board with people I know, and other key factors.

As Im typing this Im thinking spend as little as possible to get into a prop that cashflows and hold onto as much as I can for #2.WHAT OTHER FACTORS WOULD YOU CONSIDER IF YOU HAD TO MAKE THIS DECISION?

Having an LLC is not necessary.However, it should be decided once you have a conversation with an Attorney and an Insurance agent.Some factors that come into play are1) Your Net worth2) Your Risk Tolerance3) Your Risk Exposure

I'd say either factor in the extra cost of the lengthy turn to your projections OR find the team to meet the time frames needed. 1 to 2 weeks should be very doable.

So there is a savings of whatever you would have paid in rent by choosing this option.With buying a rental property once it’s paid off you now have a steady stream of cash equivalent to or more than what you pay in rent.That’s not even factoring in the fact a loan on a rental property is paid by someone else (the tenants) during the duration of the loan.I would avoid investment in single family homes or anything that requires immediate renovation for now.

Whether or not you should create more LLCs to separate the properties can depend on a few factors.

So the total cost is $4800.I know I have to factor in the pandemic years with higher costs (although I think differences would be mostly in products and materials, not labor), and the fact that the numbers in the book are from 2019, but I was wondering if someone could help me see where I am making a 130+% mistake in my estimation of labor costs.Thank you in advance!

@Roberto VasquezThe decision to create one or more LLCs for your properties can depend on a few factors.

I just wrote a blog about the financial metrics/returns of building ADUs in Los Angeles & Southern California...thought I would share some of my findings:The cost of an ADU will depend on a few factors including whether it’s a garage conversion or newly built detached/attached ADU, but a good rule of thumb is as follows:Garage conversion (300-400sf): $70,000-$100,000New ADU: $200-$350 per square foot.

You'll get a far better response using your name, and in the case of no name or return, the curiosity factor will often overcome the gatekeeper mentality :-)Hope that helps.