Suddenly, my leverage was gone, and I had to bring more cash to the table than I’d planned.That experience taught me two things:The appraisal can shift the financial landscape of your deal overnight.A higher-than-expected appraisal can give you instant equity and better loan terms.

That meant less cash out of pocket at closing and $40,000 of instant equity built in on day one.

Once I have located such a property, I buy their property for below market, (instant equity) no bank qualifying, no credit checks, by offering to take over their loan and make their payments for them.

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Verify the studio is legally permitted as a separate dwelling unit with its own address, kitchen, bathroom, and separate utilities/entrance—many "studio apartments" in Florida are unpermitted conversions that violate zoning and could result in fines or forced removal.

Plus if someone is, they may like the golf course experience.I would leave the garage as is and charge for covered parking or convert it into another livable unit (Accessory Dwelling Unit).

Hitting either number is tough for most people.AdvantagesNear-instant liquidityEasy to start with small amountsValues are simple to trackDisadvantagesYou must consistently beat inflation and ride out crashes for your drawdown period, which even the best money managers are unable to do.Allocate time to monitor the markets and reactLimited tax advantages, little or no leverageMonthly withdrawals reduce principal and make diversification more difficult.RentalsWith rentals, my goal is to own enough properties so net rent replaces my paycheck.

Both buildings are included under the same address.Can I legally insure the 1 bed 1 bath as a shop even if I am renting it out, or does it have to be insured as a separate dwelling?

While the whole 40+ page policy can be a lot to get through, I'd start with the occupancy requirement, how vacant is defined, and how they define a building or dwelling structure if your work has begun.Generally, there is an occupancy requirement with some buffer, maybe 30 days, maybe your policy gives you 45 or 60 days.

It's led me to the permitted uses in that zone, which includes "single-family dwelling units."