What would be the best route to present and implement this idea?

One effective way to manage receipts and bills for multiple properties is to implement a digital expense tracking system.

Then, when they're ready to move in, they could convert it to a residence and remodel the house to fit their needs.I hope @Dave Foster and others can provide specifics on implementing this approach, especially when it comes to the long tax arm of California.

This is good to know, however, vague, and hard to implement it.

Often times, having a license ties your hands and keeps you from implementing many investor strategies.

.🧾 Sample Lease Language for RUBSIf you’re considering implementing RUBS at your property, it’s important to have clear lease language.

Implementing the proper legal and financial structures can help shield your personal wealth, reduce your exposure to litigation, and limit access for potential creditors.

I’m leaning toward value-add or light fixer-uppers, something where I can force some appreciation and possibly implement a BRRRR strategy.My price range is around $150K–$250K, depending on the deal and market.

Hi Bridgette, I actually just purchased a home recently and am implementing a similar strategy, living in the english basement and AirBnBing the upstairs.

To give you something as a reference based on your budget (30-40% down with $1.8M), the general cap rates you will see in the Bay Area are roughly 3-5% https://www.loopnet.com/Listing/1047-Rich-Ave-Mountain-View-...https://www.loopnet.com/Listing/1180-Saranap-Ave-Walnut-Cree...You will find higher cap rates and more 20+ units buildings in SF, Oakland, and Richmond, but keep in mind of their stringent tenant laws.