Property Managers:While realtors are great at buying and selling homes, most aren’t trained in the intricacies of tenant screening.

I find that depending on the market $300-500/mo are fairly normal and if compared to what you would pay with a single family home on some utilities, maintenance, and management, it's a good deal.

Improvements What was the outcome?

For example, if you buy a home for 100k, and then improve the property and now it is worth 200k. 

Quote from @Spencer Elliott: Long story short, land is on loan and I’m purchasing a manufactured lot as a temporary home/future ADU to my final build.

I'm a Project Manager at an Architectural Firm specializing in Custom High-End Homes. 

Any improvements that were done over the years had to be done to code of that year . 

I generally look for two things: new homes on the market for sale are they being sold very close to asking price, with short days on markets or not.

That profit will increase over time and improve your return. 

The plan was to pay cash, refi out and use that to improve the property.