Home Improvements of 50K and is Rented.

Luna,This sounds like you are buying a home as your primary residence.

To help you get started with home hacking, consider the following advice:1.

These homes are cash only deals though.

Each option has its pros and cons, and I'm hoping to get some insights from this community to make a more informed decision.Option 1: Building an ADUPros:Increased Property Value: An ADU can significantly increase the value of my primary residence.Control and Proximity: I can closely manage and maintain the property since it's on my land.Potential for Higher Rent: ADUs in bay area can fetch a good rental price.Flexible Use: ADUs can serve multiple purposes – home office, guest house, or rental unit.No Additional Land Purchase: Utilizing existing property means no extra cost for land acquisition.Foundation improvements: I will get an upgrade for my foundation which increase house stability.

Project was completed and home was marketed and sold within 30 days of rehab completion.

I grew up in the suburbs of Chicago and would ideally like to invest in IL since my family is still there and can serve as a home base for whenever I need to be in the area, but with IL property taxes being as high as they are I'm also scoping other markets in nearby states.Does anyone have any general advice for buying / investing long distance?

I considered listing as 'for sale by owner' to save on commissions, and even put up Rent2Own signs which did get a lot of interest in the first weekend.However, after looking at the refinance term sheet from that weekend, I decided to just cut my losses short and sell.

The house is small, like 550 sq ft, but all of the homes in this neighborhood are this small.

Oddly enough, the small print says California-based owners would get a slightly better rate, but it doesn't specify what.