I just want to soak up as much knowledge as possible and get my feet wet as soon as the right deal presents itself. 

I invested 6 figures about a year ago, and only got one distribution and that was only after numerous calls and emails. 

Search the BP for ADU appraisals to encounter numerous examples.

I hoping this role will help me get my feet wet in the industry and give me a chance to learn the ropes while building valuable connections.

Seriously, looking back, my life is full of numerous examples of things that were labeled as impossible, or impractical, but I somehow managed to pull them off.

It will be a little trying for 6 units to use - they're slower because they do both washing & drying - but that would be way better than expecting tenants to drag wet laundry around.

It gets your feet wet.  

I also agree that RE appreciation is unlikely to match the last dozen years, but you never know.Where I am unsure we agree is that paying $450k to improve the cash flow ~$3k (your numbers but I expect my delta wold be similar meaning both my cash flow estimates would be worse than yours but both would be worse by the same amount not affecting the difference) makes sense especially if the cost of having the extra $450k is only 6% rate which is historically simple to beat via numerous investment options and hopefully no one is investing in RE for an expected of 6%.  

It’s a lower-risk way to get your feet wet while you’re learning.

If low wet ground check with people moving dirt for free fill dirt.