Hi Gaya,Creating an off-market pipeline could be a great strategy for you to not only get great deals but build consistency and control over deal flow.

Time sink: takes so much effort and time while working full time.Option 2: Buying Rental Property in a Cheaper MarketPros:Time to cash is immediate is about 40 days from closing time.Landlord friendly: which means eviction and rent control in LandlordDiversification: Investing in a different location spreads the risk.Property Appreciation: Some emerging markets might offer significant appreciation over time.Established Rental Market: Easier to find tenants in established rental markets with a high demand.Potential to build an ADU: i can build on the property land.

It still would not alleviate the other issues with an ADU addition such as revenue out long (often many months) before any incoming revenue, the worse financing associated with the ADU, that it likely makes your primary a rent controlled unit, that it detracts from the primary even if it is just yard, that adding an ADU addition is work (likely more work than a BRRRR with much lower returns), etcCan you post the valuation you receive when you receive the appraisal?

For instance we’ve got a bees nest and I’ve already arranged for pest control to come in less than 4 days and notified the tenant about this and still they call/text 12 more times to bring the issue to me.

That's why its best to inspect the property periodically and nip things in the bud before they get out of control.

If that idiot comes along, you can't control that or do anything about it.

In New Jersey, rent control laws vary by municipality.

It sure makes sense  - the builder has no skin in the game in controlling costs whatsoever.

When MLS was created in most areas across the country, NAR became a virtual monopoly in residential real estate sales controlling 89% of the market.  

Do you have any control over what the existing owner can do to the property?