If the house is older than 15 years old and n ADU is added, it can become rent controlled.

Jamie and Allen are spot on, as usual. :)I would add "Is there an ideal avatar that you are looking to serve" to the mix. 

Always make sure the loan-to-value ratio (LTV) aligns with your risk tolerance (usually 60-70% for fix-and-flip loans).Once you're prepared with contracts and a local network, you can start talking to borrowers and agents to find opportunities.

Most of the homes we built on these lots sold at a profit, but a couple did not, again, because of the reasons above. 

Of course want better close rate but when those numbers I would be ok with 

They me being almost two years old and more than 5 miles away.

If it is a class C office building with 10% occupancy that is very different than a Class A MF which is still very different than a debt fund with zero leverage.As mentioned risk and return go together  - greater risk should have greater upside

Despite paying fees, doing a deal and making some profit is better than sitting on the sidelines. 

Not impossible, but much harder than before. 

Are there any lenders or resources out there that can provide DSCR loans or other types of loans that are less than 100K and don't require prior ownership history?