I see you mentioned the BRRR method, here's a nice breakdown of it here on Bigger Pockets.   

A couple of things to keep in mind: you mentioned PadSplit.

Mention how the seller can close in days or months?

As I mentioned above, the risk of being sued, found guilty, and fined more than your insurance will cover is almost non-existent. 

Knowing the three cities mentioned is important for grading the neighborhoods and can vary street by street. 

I will look into the options you mentioned and factor in all the informative insights you shared.

Hey @Marc Shin, personally I like what @Bruce Woodruff said.You could get things ordered that you need plus hit up all those places that Bruce mentioned.

Like someone else mentioned, doing a short term rental in a secluded basement that is very private and walled off is one thing, but sharing the same refrigerator, kitchen thermostat, etc. with a complete stranger seems like it will introduce more problems than what the money is actually worth.

As Dan H mentioned it’s the deals I passed on locally that were greater regrets than other state deals.  

you will need to look at the APN of the property and line it up with what you actaully bought. as mentioned the tax assessed value is not an indicator of value. the land could be a utility easement, used for stormwater management etc.