I keep it simple, i do not allow pets.

You defiantly want legal protection as stated by @Max Wilhite@Jonathan Bock is correct about keeping it simple. 

I'm just a simple yokel from the backwoods of Alabama reading about how you guys are doing things and trying to learn by doing. :) 

I create a simple spreadsheet and compare my CoC return and Return on Equity (ROE).

Just have one LLC for all your properties for the most simple/easiest way to buy investments (not an attorney and not legal advice). 

They keep it simple, REAL SIMPLE, they only buy New-Con. 

In simple terms: if you invest 200k into an ADU it won't increase your property value by 200k.

Hey Hey @Veronica Mitchell - The most simple advice is to follow the CTA trainlines.I personally love the South East Corridor of Chicago which has Bronzesville, Kenwood, Washington Park, Hyde Park, Woodlawn, and South Shore.That area will continue to be gentrified because you have the lakefront and CTA trains.Others mentioned NW along the Blue and West along the Pink, Green, and Blue lines.

simple question to ask, are investor dividends being paid out of net operating income or reserves? 

Simple.