I would need to know more specs on the house but with material shortages It's difficult to say how much to budget. 80K-120K for full gut perhaps but unsure with lumber beings so expensive and shortages.I would plan 9 months of vacancy between the pain you will endure pulling permits & having your contractors show up everyday to complete the work & then final inspections to get a CO. 

I was looking for something cheap, but nice at the same time. my real estate agent pulled through and found this property being sold off market.

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

An architect told me that even though ADUs should not be bigger than 50% of the main house, I should be able to permit this one with SB09 if I pay a fee (about $8k according to my agent).

Cassidy Burns and BPG Residential Just curious. did you include your cost of sales, realtor fees, escrow, capital gains in your profit projection? 

Everyone that has more than 1 or 2 properties should have some kind of basic spreadsheet that demonstrates how much that property is bringing in after all your fixed costs are accounted for, at a minimum - PITI, lawn care, HOA fees, etc.

I know some good people that have went to dinner, had a couple of drinks, drove home, and got pulled over.

In my shoes, it would be hard to credit a client for a decision that could have saved you $10k+ in damages, especially when it wasn't something that went to our firm (like management fees or an in-house maintenance contractor).

Loan-related fees and expenses3. 

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.