This is why so many people earn large sums of money quickly (lottery, sports, entertainment, etc.) and end up broke.Take Dave Ramsey's Financial Peace University.

It depends on where you want to live, income, personality, and other factors.You could buy a large home and rent out the individual rooms to cover expenses, but this comes with problems.

With that said I am looking to do minimal work to renovate the home such as painting and adding new appliances.

My first ad budget was $295.00 credit I got from my local news paper. 

For flipping I would also normally not recommend adding an ADU.

We had to make sure we sidestepped them and only added information to the correctly entered, active applications.

Baselane is extremely easy to use, built for investors specifically, and keeps adding more useful features. 10/10 highly recommend.

There might be some added tax benefits for this if you add in depreciation to help push you to a lower tax bracket. 

Thanks for the tip on adding text to the photos.

The seller wanted a buy-back, and we added a clause that reimbursed not just for upgrades but also factored in market appreciation tied to the improvements.