To finish the interior of a 480 sqft garage.If an efficiency ADU costs 33%+ of the total value of the existing improvements, it's really hard to make the numbers work.

A modern contemporary masterpiece, the amenities and finishes in this project are top notch.

No update of common area finishes although clean and well maintained.

We had to request correction of multiple other items that we did not feel were finished with sufficient attention to detail.

. ;)  There are no losses until the repairs are finished and the house is ready for renters.

The plan regarding primary residence is to finish the basement out to increase a number of bedrooms and capacity for the short term rental.

As you mentioned, an agent is one of the four but you also want to focus on curating trusted relationships with a contractor, PM, and lender (espeically one who can help start to finish with the purchase/rehab and refinance).

I'm finishing up my ADU here at my primary in California and we'll operate it as a STR.

Would love any advice or any leads on attaining additional properties for short-term rental arbitrage.Thank you for your time and consideration.

If the seller needs the cash upfront to finish the rehab I would be skeptical, and if they're not willing to use a third party it might be suspect.