Sure you can put a mortgage on the properties and leverage them but then you have a mortgage payment to calculate in.There are some trainers out there that tell people buy 1 house a year until 10 then stop and in 30 years you will have 10 houses paid off for retirement etc.

All I can say is .. he is a TREMENDOUS inspirational teacher & trainer.

You don't need to pay a trainer or a coach, unless you have plenty of money and want to take off fast.

My worry is that while I am clear on the risks (extended timeline to get a tenant in, and expensive buildout) that I am not being nearly conservative enough - do I risk this thing sitting empty for a year, or years, and finally renting well below my implied rate? 

The tone of his email implied he had been unable to reach my PM after "several attempts."

Second problem is that by making an offer to purchase, the buyer is implying that they have the ability and the will to conclude the transaction.  

Typically they are not eligible for traditional financing which implies other funding sources (HML, private Monet, self funded, etc).  

And commission implies some sort of marketing and sales relationship.

This implies rate will not be the lowest rate.  

ADUs implies there is a residential building to be an accessory to, but inn my market the accessories can be overwhelming to the primary structure.