I'm also a big fan of backup/contingency plans.

It’s an interesting opportunity if it aligns with your overall plans.

Network with experienced investors, choose a real estate strategy, research markets with job and population growth, learn financing options, familiarize yourself with property management, develop a long-term plan, and leverage your stock experience to evaluate markets and trends.Good luck!

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

Initially, our plan was to fix the drywall leaks, clean out the property, and relist it for a small profit.

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.

Not that that is a bad thing as some are on lower comp plans but they are at the mercy of all having "overlays" and have to sell their loans.

How do you plan to finance the ADU?

I download those into Geo Batchcode so I can plan an efficient route to check out those properties, and of course I take note of any others of interest that I see along the way.  

Are you planning to rent the entire unit at the 2nd year mark?