Do you really think you are going to get a responsible co to do the move out and in in a timely fashion for the new tenant, umm not likely in Cleveland. 

If we moved out and rented the main house as-is, we'd barely break even or even potentially enter negative cashflow.That's why the idea of renting out the ADU for extra income sounds appealing.

You will now be paying on a new loan you took out against your residential portfolio and hoping you land a tenant that will be permitted by the city redevelopment department to approve the tenant that wants to move into that building.

Thought I'd share with you step by step how we move thru the process and such, since there seems to be alot of folks asking if anyone has done this, or just researched it.

I am currently planning on staying in the NYC area while I start my career, save up capital and continue to educate myself on real estate, but eventually I would like to move out of New York to start investing somewhere more affordable.

. :/ I was hoping someone on here could help me make my first moves to getting an income property or my fist condo, or home or whatever!  

Sometimes it is just easier to pay the tax and move on.

Someone has to have a 60" or larger TV they would be willing to move once a month!

I expect to hear, and can work with a sponsor who bluntly acknowledges that they are behind on their NOI targets, and need to move forward from here.

Thanks for all the support and messagesThere is no requirement for you personally to do the moving.