The complex became profitable just about when the package ran out.  

Profits do not justify their effort even with the ADU addition in this case typically not being hands off .Here is a list of things that make ADU additions a less than optimal RE investment but the value added and starting with tens of thousands negative is a big one that needs to be well understood. 1) The value added by the ADU addition is often significantly less than the cost of adding the ADU.

You often only have to worry about tax upon the profitable sale of an asset. 

I understand the argument that the general public should not be restricted from investing in “highly profitable” deals, but what tends to end up being offered to unaccredited, unsophisticated investors in the “junk” end of the investment spectrum. 

Once the renovations are complete, the property might appeal to owner-occupants or investors, and you could potentially recoup your costs and free up capital for a more profitable deal.

Or are interest rates, rents, etc. still out of whack and making profiting difficult assuming now as time zero? 

They cost $800k+ though but well worth it when want investment that actually performs profitably.

You will be 100% leveraged and you are paying top dollar, because the turnkey company needs to make a profit as well.Real estate is not for everyone and it can make your life miserable.

Just consider the rent you saved buying the place as part of the profit plus any/all the write offs you’ve had for 3 years. 

people in the street are dying becuase their company make less profit too, most small business in america can only survive by continous debt cycle.