Has anyone ever applied for an sba7 small business loan and applied it to one or more rental properties.

In your case, you might have to finish the main units before applying for the ADU. 

., if I had applied my alignment, along with doing better due diligence, and learning how to underwrite, I may have never come up with this framework.If you are raising capital, take the time to learn if your interests and deal align with the investor, and if they don't, tell them thank you but take a pass.

I’m expecting the city has likely applied a wonderful assortment of fees, which I anticipate discovering soon. 

I would love to take this skill, and apply it to asset management, just not sure where to start!

But as a matter of policy, I just tell everyone that actually applied (that I didn't pick) that I rented the apartment to "another qualified candidate".

State and local laws will apply.

I'm not saying all these apply, but your story brings them up. 

Get to know people in the various trades (plumbers, electricians, carpenters, painters, siding installers.)

@Joseph BraunRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.