LA Homebuyers Turn to Rentals to Pay the Mortgage
TL;DR Summary
A Hollywood couple seeking a quieter home in the San Fernando Valley pursues a plan to offset costs with rental income by adding an ADU; leveraging renovation loans (FHA 203k and HomeStyle Renovation) to wrap renovation costs into the mortgage, they evaluated three LA-area properties with ADU or multi-unit potential (Highland Park three-unit hillside home, Van Nuys corner lot with an ADU, and a Reseda cottage with space for an ADU) with projected rents around $3,200–$3,500 per month.
To Afford a House in Los Angeles, They Had to Become Landlords The New York Times
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