We also have an operating agreement that states that I will be handling the daily operations and I'm basically in charge of the whole business.

Last month, while someone was cleaning out our property in the Auburn Gresham neighborhood, the place was broken into.

Reply back was that would work, we raised the interest rate slightly and I paid for the attorney fee to update the note, which was only a few hundred dollars.Just a thought!

When thinking about depreciation it's not about when you buy the property, it is when you "put it into service."

All the best!

Welcome to BP - you've definitely come to the right place - I'd recommend some of the books in the BP bookstore for next steps - particularly the BRRRR Method book by David Greene which is great and might be perfect for your situation

I am thinking about putting together a tour of 2-3 ADUS in Pasadena CA that are under construction or recently built to get a better sense of the ADU building process.

The goal is to have positive cash flow, where rental income exceeds your expenses.

What I have found is that like cabins, one with a view and the other with a pool, that the pool cabin will significantly outperform the view cabin, all other things being equal.

The comparables for the resale on this home are in the 825k - 850k range which of course, makes this guy happy :)  ITS an UGLY DUCKLING and I love ugly ones that need improvements THUS adding value when we improve the home AND increase the ROI from the monthly income standpoint as well.