Looking to buy a SFH in one of these counties, with the intent to convert a basement into an ADU and rent it out (short or long term) - and live in the main unit as owner-occupied.

So, I had to get the owner and tenant agree that it actually took place. 2) Meeting Tenants - I would say not needed, but certainly when their lease is up, you want to re-screen the using your screening criteria for income, background, etc... 3) Review the leases and understand expirations and lease renewal terms if any.

My primary goal is long term appreciation and I'll accept a property that breaks even on cash flow.

So, as long as the bottom line is a positive result  (grater than zero) the deal is good?

I initially planned to invest in Lancaster but was priced out and needed cashflow in the short term...What are your concerns?

As long as they aren't staying every night and there are no parties or other concerning activities.

Growing up in CAN I already had a head start in the rules, markets, etc, so the learning curve wasn't as long.

@Eric Gerakos this may be a silly question, but how do you deny partial payment... the tenant has been paying by Venmo/Cashapp (which may be a problem in itself) or are you just saying in terms of setting expectations with the tenant.

I think it is fine as long as their belonging are covered under someone's renter's insurance, but would most people request each individual tenant's have their own Renter's Insurance?

We have long term renters in Houston that are a 30 year old married couple, combined household income of about $110k, and they're going to be renters for 3-4 more years (based on their own admission).