His REI is an after fact, the hopeium sales are primary.

In Las Vegas they decided it has to be away form others, have sound monitoring equipment, ban parties, AND it has to be your primary home that you live in WHILE it’s rented out .

Plus, years down the road, I plan to split my time between SF and Detroit, so this would be a step in that direction.Another major focus for 2025 is a personal project: we recently completed a large ADU build at our primary residence here in California.

If you get dealt that character card, your primary challenge is that you need to replace a lot of income to get out of the rat race.

Your primary issue is not what the PM is charging but the underwriting that led to this purchase.  

There are many reasons that adding a single ADU in southern CA is a less than ideal RE investment (i will post a list at the end) but the negative initial equity is a primary reason as the initial negative equity position consumes the initial cash flow and can take many years to recover.As for converting your home to a rental….

Make sure you have filed for Homestead exemption at the very least (this can only be done if you the home is your primary residence, not an investment home).

While traditional loans might be tough with current interest rates and no W2s, there are definitely creative financing options and strategies to consider.One possibility is exploring seller financing.

I'm in a beach area where Sat to Sat rentals have been traditional for 100 years, but not any longer since the rise of Airbnb (and less control by local property management companies).

HI, Is opening a LOC on my primary a good option to fund flips or is there a better solution to get the funding?