BUT, I am confident that while the above covers MOST situations, in a country of 300 million + people there are locations where a 12% ROI exists for a car lot - though you may be giving up the “windfall” of a developer wanting and willing to pay a premium for your lot.  

Hi, I am in negotiations to purchase a property in Sacramento, CA which has an existing lease with a Residential Care Facility.

By the way AB 2533 (Carrillo) – Unpermitted ADUs extends the protection of existing (not newly built) unpermitted safe units of SB13.  

Maybe you refinish the existing wood floors in the bedrooms rather than install new flooring.

You cannot refi most loans without an existing tenant and lease in placeBeing out of state complicates things a bit here. 

Free cash flow and lessening physical and financial burdens is always a plus, it should probably be included in the business community goals I think leveraging your existing business cash flow to diversify your income portfolio is awesome!

In my existing scenario I am pro managed at Lowes and use their Lamex for purchases (though I maintain accounts at Depot and several specialty companies such as Ferguson, Platt, Stoneway, etc).

I have learned a ton on these forums though I’m posting for the first time.what does not get mentioned enough is that if you want to scale slowly using low money down FHA/conventional loan approach and live in there for 1 year, at a time, you should not write off all the rental income on your most recent tax returns for the existing rental properties.

So many more people on here more qualified to answer this than myself, but my thoughts....Have to focus on areas with existing infrastructure. 

You need someone who clicks with you personally before engaging in a mentor/mentee relationship with the dedication and stress that may be involved.Where to find a mentorStart by looking within your existing network.