On top of that, our STR management company now oversees more than 90 listings under the Cozy Co-Host banner.My wife and I have transitioned from the typical 9-to-5 grind to achieving financial freedom as business owners and real estate investors.

I think clean, nice finishes that aren't too flashy or unique is typically the best choice, especially in the price range you are looking at in Boise.

The if is the challenge as ground up ADUs typically cost more. 

@Michael Izbotsky In community property states like California, assets acquired during marriage are typically owned equally by both spouses, which may complicate transferring jointly owned property into your sole-member LLC.

Typically $2m+ homes don't cashflow due to high taxes, high insurance rates, and low rental demand. 

Could I be missing something, or is this typical for the market right now?

But you have to understand the seller is taking on a significant risk of having someone else run the property and not knowing if they will get the final payout.If you are getting typical rates, why would you not just buy the property outright with 20% down and obtain mortgage financing from a lender?

You typically don't want to split up construction and engineering services/planning here, but we did this to let us see how well we work with the firm.It's probable, if we work well together, they will also be our GC.

@Loan NguyenRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a Class A property in Class D area, what quality of tenant will you get?

It is typical for them to be bad.