You’ll find me driving a dirty older truck with Levi nut huggers on and a dirty work shirt with holes in it .

Tenant does have renters insurance however it is a 5k deductible.

In my county, there is a 60 day, or 12 month waiting period (depending on the type of levy) before you can do anything to the property.During this time, what is to keep the previous owner from further destroying the house and wiping out your investment? 

No one wants to seem unreasonable so they will acceptIf you don’t negotiate, finding a good deal is extremely rareCh. 13 Financing Your Rental PropertyAs you do more deals, more methods present themselvesAll CashAppreciation Can’t get a foreclosure on it Hope get better cash flow but less ROI Appreciation Doesn’t affect your net worth very much, even though appreciation is “icing on the cake”Tax savings You no longer can deduct the mortgage interest payment from your taxes against your rental income Tax depreciation- the reduction in the value of an asset over time due to wear and tearLoan Paydown None.

It will be difficult to replace a full time w2's income in 4-5 years unless you have a lot of assets to throw at the project or unless you are in a very friendly investor market.The formula should look something like this:Gross investment income per month - expenses (mgt/taxes/ins/maint/assumed vacancies)= Net business revenue to you on 1099/w2 - real personal business expenses/deductions= net taxable revenue (outside of personal deductions)If the final net taxable revenue matches your teachers salary then you are good.

Mailing address, where your vehicles are registered, address on the drivers license, and many other ways that they deduct where your primary residence is.  

I would deduct the cost of the lien from the purchase price.I would not pay the lien off till I owned it. 

I defer to your education in this area. https://www.irs.gov/taxtopics/tc414Rental IncomeMost individuals operate on a cash basis, which means they count their rental income as income when they actually or constructively receive it, and deduct their expenses when they pay them.

Security deposits are returned after you deduct damage and other things.

Considering that ADU income is taxable and both my wife and I currently have other full time jobs (cant claim a higher deduction in real estate work).