We’re a home ar Chuitecture firm in LA County in Hawthorne and considering splitting our primary residence lot and building a larger stand alone home for office/ home use / Elderly parent use in the short term and potential rental conversión or sale long term.

See last section below.Gifting also is a big hitter but most older people won’t relinquish control.  

Hey everyone,My little sister just started as a freshman at KU, and my parents and I are thinking about buying a place in Lawrence, Kansas.

I think I will long-term rent them most likely as we are nurses and see ourselves taking care of our parents later in life, so ideally we would like to keep the homes.

.• My parent owns two properties that are completely paid off.• Together, we want to leverage the equity in all four properties (through HELOCs or cash-out refinances) to buy more rentals and build out a larger portfolio.• Our primary goal is growth — not just holding what we have, but using these assets as a springboard to acquire more doors over time.• Long-term, I would handle all operations and decision-making, and my parent would receive passive income without having to be involved in day-to-day business.Where I’d love advice from this community is on structure and timing — especially if entity setup becomes essential for securing financing and scaling efficiently:• Would you recommend first leveraging equity through personal HELOCs and contributing those funds to an LLC — or is it smarter to set up the entity first and structure financing from there?

Also USAA if you, your parents or your grandparents served in the military. 

This implies residential units can be built at lower costs and provide better return than building a single ADU.11) adding an ADU to SFH can make the SFH fall under rent control.

Lastly, while preparing to take care of your parents is admirable, you have to decide if this is the best way to provide for them later in their lives.

But some towns (like Irvington) have their own local rental/property registration on top of that — even if you’re exempt from rent control.

If not give her a deadline before you turn it over to animal control.