Also, keeping an eye on zoning changes or upcoming developments can help you get ahead of the curve.Would love to hear more about your experiences too—what areas are you currently focusing on?

Your PSF will be much lower than it would be adding one small unit per lot.One thing to note is more than 4 units or more than one ADU changes the financing that is available.  

Did you ever get this figured out? 

NEVER EVER again..

I would like if you ever need a licensed GC to do renovations/Tenant Improvement projects I have a group for that.  

If you ever need help running numbers or managing your property. 

Would you accept a tenant telling you they were going to change how much rent they were going to pay, despite what their lease contract stated?

We have never collected that and it is not a significant cost.Also be very careful changing criteria mid stream, I would only change it between vacancies. 

although we bought about 6 years ago or so for 270 put 100k into it so you can do the math  no debt .. hoa 400  we pay utls. 200 or so.. so 600 a month out of the 3500.. tax's about 1500 a year ( got to love Vegas taxs ) value today right at 600k.. so lets say we net about 33k a year on 370k cash .. so not bad little under 10% COC with an outstanding tenant one of the best I have ever had.PS given tenant quality we manage ourselves.. 

Best property manager we have ever been with.