A third party company that integrates with our system.

Conservative, aggressive.

Be conservative and don't rely on young adults to pay their rent.

It seems duplexes are valued on rent rates for the most part. I

From the little I know of San Antonio (I am a wholesaler who specializing in selling STRs nationwide) its not a super hot Airbnb market but the amount you expect for rent sounds pretty conservative. 

They don't tear things up, they don't party, rent is generally paid early, lots of positive attributes!!

I'm a very conservative investor and may look through a hundred deals a month, and at the end of the year only invest in 4-5.

Instead of a custodian/administrator, find a facilitator (i.e. a third-party administrator).

Another example is that with a tax auction it is common for all the interested parties to not be notified 100% correctly meaning they could in theory come back later and try to reverse the sale and take the property back!

This negative equity position is one of many reasons that adding ADUs in a single family zone is not typically a good RE investment.OP whatever you decide to invest in, make sure you do thorough and conservative underwriting. good luck You’re right in that the level of underwriting I presented wasn’t institutional level - but for your average person just starting out, institutional grade analysis often makes the thought of investing overwhelming.