Water is often shared in many old buildings or homes that have been converted to multi unit.

As mentioned above, one of the best things you can do is pick up properties as you go, live there for at least a year, then convert into a rental.

If you are able to sell someone on letting you purchase their property outside of listing it, there's no reason you couldn't convert some of those into seller financed opportunities and realize the whole potential of the investment instead of just the portion you can find in the transaction.

@Gino Exantus, a few things to consider here:Most importantly, can you convert this to a duplex? 

And then you can convert it to an LTR if needed (such as current situations pose).I guess I'm just more interested in getting more cash flow quicker for reinvesting.

@Brody MartinezHi Brody,I am a livermore resident as well and currently am in the process of converting my single family home into a house hack with an ADU.

The first number is the amount that goes to the investor, the second number is the percentage that goes to the syndicator.With a flex-equity split, the deal can be set up as a 70-30 split, but if a 14% IRR deal ends up performing at 13% the split would convert to a 80-20 one.

The first number is the amount that goes to the investor, the second number is the percentage that goes to the syndicator.With a flex-equity split, the deal can be set up as a 70-30 split, but if a 14% IRR deal ends up performing at 13% the split would convert to a 80-20 one.

I intend to keep h1 as a rental property.My 2018 taxes listed h1 as my primary residence. h2 was not converted to a rental property.The close, trusted friend listed h2 as their address on their 2018 and 2019 tax returns.The Ask:As I complete my 2019 tax return, should I:convert h2 as a rental as of January 2019 and take depreciation/list rental income accordingly?

It also has a 2-car detached garage that could be converted to a guest house at some point, though that is not part of any of the immediate renovation plans.