I believe I will need to live in the first property for at least a year under the 5% down owner-occupied loan rules, but I am not sure (someone chime in if they know).

@Jen HebdaWith FHA, there are property flipping guidelines that don't apply to Conventional financing. 

Basis rule of thumb is that for every $5/foot of Tenant improvement dollars given, rents can raise by $1/foot/year on a 5 year term.

Josue Rivera Definitely check out what zoning restrictions if any apply.

., Dodd Frank seller financing rules do not apply to rental properties, only consumer residential properties.

What advice would apply to the AirB&B portion of this scenario or where would y'all point me for further reading, advice?

But there is a currently a piece of legislation making progress that I've read would require cities/counties to have an amnesty program for units built before the ADU rules were passed (and many municipalities already have this in place).

Many states have mandatory disclosure rules for certain properties.

A good deal.Price was low, cash flow was high - but as i already had bought two units this year i had not build up too much Equity so i was not able to find 30 procent free cash....But i could not forget those two units...I believe i read somewere in this site on some of the good rules when you buy properties;If you cannot find the free cash there might be something Else you have that the seller would like to have....from you instead of cashIf there is something you really want to have... you might have to give something Else up... to get what your goal is...To make this deal happen -and as i did not have the free cash - i started thinking of what did i have - with value - and i was willing to Trade in this deal...I ended up trading in my lovely BMW :o) :o)The point is, that if i did not read these posts on this site - i would never had got the idea of Trade my car into a property deal.

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