Alternatives include using a 1031 exchange to buy a new rental property or completing the exchange first and then doing a cash-out refinance to fund the ADU.

If there aren't any massive physical problems with the property, it appears you can grow income and equity.You might be able to buy this with little cash out of pocket if the seller owns it free and clear and was willing to finance nearly all of it.  

Are you looking for immediate cash flow or longer term appreciation?

They offer weekly training sessions on everything from investing and construction to vendor management, cash management, market analysis, and home underwriting.

Period.If you think every seller is motivated, every number will work, and buyers will throw cash at you, you’re setting yourself up for disappointment.👉 Adjust your expectations—this business is about consistent effort, not overnight success.2️⃣ INACTION IS COSTING YOU DEALSEver stare at a lead and overanalyze every detail?

At this point, I LOVE having cash on hand.

I wouldn't have any interest in buying something like this to hold since it would be so far negative cash flow wise on a monthly basis.

Also, there may be a very good investment channel that reviews cash on cash return in Lynchburg, InvestLYH. 

I have $1m in an IRA and will have another $1m in cash to invest.

I don't currently have any investment properties, but will likely work with a turn-key property managment in the Memphis/Little Rock area.My goal is to build a good cash-flow portfolio to ease into retirement.