I've been looking to buy a small self-storage facility, but there are some myths I've encountered that I just don't know if they are true or false.1.

Make sure you know the value the ADU will add to the property before building the ADU. 2) the financing on an ADU is typically far worse than for initial investment property acquisition or is often not leveraged (HELOC, cash out refi, etc).

If you know of such a case, please chime in.

Also, does anyone know of any great meet ups in the LA market?

Tenant class is determined by asset class, strategy, market viability for such and MN has one of the highest median incomes in the country, did-ya-know-that.... 

Be sure to connect with local investors at real estate meet ups and let people know what your investing strategy is.

I've included an example below to help illustrate this.So different lenders have different rates (which do vary even for DSCR loans) but these are factors they all consider.See example below:DSCR < 1Principal + Interest = $1,700Taxes = $350, Insurance = $100, Association Dues = $50Total PITIA = $2200Rent = $2000DSCR = Rent/PITIA = 2000/2200 = 0.91Since the DSCR is 0.91, we know the expenses are greater than the income of the property.DSCR >1Principal + Interest = $1,500Taxes = $250, Insurance = $100, Association Dues = $25Total PITIA = $1875 Rent = $2300DSCR = Rent/PITIA = 2300/1875 = 1.23If a purchase, you also generally need reserves / savings to show you have 3-6 month payments of PITIA (principal / interest (mortgage payment), property taxes and insurance and HOA (if applicable).

I don't know of any companies who will take on a property with an open claim.

I’m curious to know when it would be best to look into an accountant and attorney?

I know there are many avenues to go down for funding, but I am looking for good advice on the best approach for this, and if using investor money is the best way to go, what is the best way to set up the payout back to the investors, via.. partnership or ROI.