@Jordan Jensen I agree, with @Michael K Gallagher to simply answer your question - Getting started is the most important step.

Quote from @Mike K.: Quote from @Zac Mckenzie: Materials + Installation should run you around 4-6$ / sf. so your on the right track. 

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Quote from @Steve K.: If you don't have experience, you'll have a hard time getting financing on something like this as your first property because lenders will want you to have experience, especially if you don't plan to hire professional management.

Quote from @Jon K.: Quote from @James Wise: @Joe Splitrock I'm coming for you bro. #5 will be mine shortly. 

Use your VA to buy a 2-4 unit for more cashflow.You could also do an FHA 203(k) which allows you to finance repairs & improvements.

Quote from @Susan Owen: Quote from @Steve K.: I would limit my losses by selling, unless the property is in a location where rents and values are increasing rapidly?

If below 1.5, will likely to keep renting out with main house and ADU separately, around 7 k/mo.If I sell it, will likely just pay the long term capital gain tax.Quote from @Wilson Lau: Competition is definitely high on the buy side, and I see more and more buyers coming in as we approach the summer season.

Quote from @Steve K.: Quote from @Taylor I.: His plan is to give all the tenants 30 days notice to raise the rent more than 10% to get to positive and if the tenants don’t agree, they’ll need to move out and he’ll find new tenants who are willing to pay.

Annually, the Management LLC would "distribute" to the Property LLCs, but it would all flow thru to your 1040 Schedule E - unless you get partners, which would require a 1065 return with K-1 distributions to the partners.