The current tenant was already in place when I purchased the building, and their lease is set to expire in a few months.

Anyone who managed to do this probably did it 5+ years ago when the market was very, very different.If you borrow $200,000 to build an ADU, I suspect you would need to rent it for $5,000 or more to make the numbers work.

But keep in mind if your using money you cant afford to get back then buying action property might not be appropriate for your current endeavors and its better to just buy open market were you can do proper due diligence and know you have a build-able site.

Yes we ask towards the top of the market, but I anticipate my holding times (which are in line as the short supply in my area is able to work for me) and build that in. 

As those prices fluctuate, there is a builders somewhere putting his feet up waiting to see a market turn more active because the last thing he wants to do is start paying crews to build houses, that could drop in value while he's halfway through the build process and losing equity halfway into the project.

Personally, I’ve been looking for ways to align creativity with the numbers, whether that’s finding undervalued properties, building relationships with local agents, or pivoting to new strategies.

Would anyone have a template or example of what they made that they could send me to build mine off of?

I'm here to grow, learn, and build a community in the Staunton, Virginia area.

I am currently employed as a project engineer working for a GC that builds multi-family projects.

Want to buy an old commercial building or gas station that had leaking PERC or leaking gas tanks?