It's fantastic that you and your son are embarking on this journey together.Feeling overwhelmed and experiencing analysis paralysis is incredibly common, especially when you're starting with limited capital.

Renting the basement as is could work, but keep in mind that unfinished spaces with limited access to kitchen and bathroom might limit how much you can charge and the type of tenant you attract.

I’m not sure about Ohio, but most state contracts are designed to limit extensions for a reason.In truth, this is highly concerning and a red flag for sure.

Some Zoning Rules have minimum square foot required, or have limit of one unit per lot. 

I’d love to hear how you’re balancing flips and rentals while keeping momentum.Great question—DSCR loans have definitely become a go-to for a lot of investors who want to scale past the limits of conventional financing, especially when shifting from flips into long-term holds.

.👨‍👩‍👧‍👦 Eligible for both owner-occupants and non-occupant property owners within city limits.📏 ADU must be no more than 50% of the main home (capped at ~1,000 sq. ft. for detached units).💰 Affordability strings attached: must be rented to tenants at or below 80% AMI, with rent caps tied to FMR at 70% AMI.📉 Loan forgiveness at $10K per year of affordability (8 years total), or up to $15K/year if you house voucher holders or tenants referred by city housing partners.🔑 Only one ADU per lot allowed.Why it matters:Charlotte is under major housing pressure, and this is a way the city is incentivizing “gentle density” without rezoning entire neighborhoods.For investors, it creates a structured pathway to add a unit with city support — though the affordability requirements and rent caps may limit cash flow potential compared to market-rate rentals.On the flip side, the forgiveness structure (essentially free capital if you comply) could offset the reduced rental income.My take: This could work best for buy-and-hold investors who don’t mind playing in the affordable space and are looking for long-term, low-cost additions to their portfolio.

Smith, Grantor, hereby sales and warrants unto Tom, LLC, a Limited Liability Company created and existing under and by virtue of the laws of Washington, whose principal place of business is 123 Smith Street, and Mike LLC a Limited liability Company created and existing under and by virtue of the laws of the State of Washington, whose principal address is 456 Jones Street, Seattle Washington 12345, Grabtees, as Tenants in Common.

The liability of lawsuits in a TIC makes every co owner responsible and can affect an owner not limited to that particular property.

To be thorough, I contacted the city to confirm if there were any rules limiting the number of vehicles someone could park on the street.

For instance if your credit limit is $1,000 do not have more than a $300 balance.