Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

I'm in the marketing field and wish I would have done construction.

Educate yourself on how to handle marketing, screening, late rent, lease violations, etc.

Is this similar in your market? 

Is there anyone in your local market you could take out to lunch who does flips?

This is one of the main inherent risks with pre-construction, and the pre-construction market has cooled, and with impeding tariffs, there is some uncertainty around where prices will be in the coming months.One thing to clarify, are you looking to buy an investment property or a primary residence (or perhaps abit of both where you live in one unit and rent out the other)?

The strategy may change, but every market can work.

Much like other markets in the Midwest, investors go to our market because of the low barrier to entry.

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

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