A lot of research and studies have come out around high paying jobs make large impacts. 

 - flipping is a job, stop flipping and stop making money.  

I don’t know how common vacancies are but I would say I could cover about 4-6 month in case of an emergency  

Common deductible expenses include mortgage interest, property management fees, repairs, and even travel expenses related to property management.

Without population growth, your rental income will lag behind inflation, requiring you to find additional sources of income.How long your rental income lasts depends on the job growth in the investment city.Non-government jobs are inherently temporary.

So when I hear other investors talking about how adding ADU's adds equity, you're telling me this isn't really a common experience?

I suggest that you make it a point of finding a good lender, not just someone who can do the job of helping your clients buy their home but someone who is willing to teach you.

You will find some of the people you market to (friends,family, former job associates,etc.) will say ( I am an agent, I used to be an agent, I already know someone I use who is an agent,etc.)This is one of the toughest professions in the world.

Also, focus on 2 years of job/income stability.Class D Properties:Cashflow vs Appreciation: Typically, all cashflow with little, maybe even negative, relative rent & value appreciationVacancy Est: 20%+ should be used to cover nonpayment, evictions & damages.Tenant Pool: majority will have FICO scores under 560 (almost 30% probability of default), little to no good tradelines, lots of collections & chargeoffs, recent evictions.

My wife and I have a W2 job.