Lastly, have you tried running the #s to look at long-term appreciation on a unit like this vs. a Single-family or Multi-family property?

I agree that there are ways but 1) rent ready without value add will be huge cash negative with realistic expense estimates 2) most single unit ADU additions cost more than the value added.  

Quote from @Corinne Snyder:Hi Michael, my CPA will not allow me to claim myself as a real estate professional with my one rental single-family home rental property because I do not spend enough hours per year running it, therefore he won't allow any overhead expenses to be claimed; only expenses related to the property directly.  

Primary Focus3bd 2 bth single family homes that are destressed, renovate, then rent to section 8 tenants. 

The property is a single family located in the East of Irvington, Indianapolis.

Look, I think of it this simple, I don't know a single established millionaire who does the "standard" consumer debt thing.

They mentioned he is single and quiet which is ideal for a landlord haha.

Hi There - We have had several clients make the numbers work here in Chicago typically with either FHA 203k and home style renovation loans.I continue to remind everyone that a single or walk right now will be a double, triple, or even a home run down the road. 

It's possible to consider a single-family investment, but even then, it would be quite tight accounting for the down payment, closing costs, insurance, etc.

Hi,I’m a single-family real estate investor with a few rental properties under my belt.