Ive used the same person for my personal residence, my mothers residence, and he has helped out many of my clients.

.: I have two rentals (both in-state, one local) and a primary residence.

Guaranteed monthly income from the resident but also boosts the value of the property (in case you want to refi/get a loan in the future)....Let me know if youd want to dive into that type of discussion

Since the property is grandfathered in, you can keep using it as a residence, but the concern is really about the future if the building were ever destroyed.

Investment Info:Single-family residence buy & hold investment.

Quote from @Anthony Jimenez: Hi BP community, I’m looking at a single-family residence in Los Angeles County that has an unpermitted unit (guest house).

Quote from @Anna Smith: Dear Members,I am working on a prime new construction project in Naples, Florida’s prestigious Park Shore neighborhood — a 5,850 sq. ft. coastal contemporary residence on a 0.29-acre parcel at 3898 Crayton Rd, Naples, FL 34103.

You'll lose your primary residence homestead exemption (which caps property tax increases in Florida), likely pay higher mortgage interest rates or struggle to get financing (owner-occupied mortgages require you personally to own and occupy), and create unnecessary complexity for minimal liability protection when you're living there anyway.

If a town boasts over a hundred thousand residents, you're on the right track.

We were originally planning to purchase a single-family home as our primary residence, but after doing some research we’re realizing that getting into multifamily could be a smarter move toward financial independence.I’d describe myself as having a moderate risk tolerance — I like to be strategic and careful, but I’m ready to take action.