Quote from @Jake Thorpe: Quote from @Andrew Syrios: Making over a $140,000 isn't much of a horror story even if it's a "scary house." 

Nearly all of our business came from the relationships that our originators had built over the years. 

I feel like I’ve walked the street without ever having been in the state.

It hasn't been an easy ride for lots of folks building in Cape Coral over the past several years, but one silver lining is the property values have nearly doubled since Covid, though the market has cooled recently. 

Non-passive to achieve this level of return.Add the addition of the ADU makes the main unit rent controlled if over 15 years old.the work to add an ADU likely exceeds the effort of a brrrr that can achieve infinite return  Experienced investors are adding multiple ADUs by leveraging items like bonus density, committing units to affordable housing, etc.  

Welcome to the community, Timothy! 

I'm in the Tampa area and mainly had mine in the Pinellas County area.  

And because it’s a logistics hub (FedEx HQ, major distribution centers, and growing industries), rental demand stays strong.I’ve been in Memphis my whole life and have spent over two decades helping investors navigate this market and build profitable rental portfolios here.

Can fix the water damage in the basement yourself.

I would imagine the program would have to allow the projected rental income from the property to help them qualify from an income standpoint?