If things go sideways, you discovery greater rehab expenses, the market takes a turn for the worse, you can get in the red quickly. 

So the risk is lower, as long as the market doesn't drop 20% and stay that low for the next 3 years. 

Do this quickly because some counties have a time limit on when you can appeal.I recommend you research the market for:- Comparable Property Sales- Condition of your property, including anything that may affect your property's value- If you are really serious, an expert appraisal may be worth the effort.

In my market the valuation with f/f non commercial financing is typically lower than the hands off cost of adding the ADU.  

Are you investing in your local market?

In my market, I only have one vendor qualified for appliance warranty work, and the warranty companies paid him half his standard fee for each service call. 

What is your current BUY formula for properties in this market?

Hi RickeyAs a first-time homebuyer, you have great opportunities in the condo market.

We always run a market analysis before making a purchase for ourselves or our investors.

There are several myths that we have to debunk before someone truly believes they can do it.You need millions of dollars to do a dealThat it’s too complicated to figure outThat permitting takes yearsIn those communities developments cost way less (think a couple hundred thousand along with a loan from a regional bank), permitting is not difficult (much less red tape), and the towns are small enough that both the city staff and the local architects and engineers and contractors all work with you to help you navigate the process since you’re all invested in making your community better.Note: The big boys can play in the primary & secondary markets.