One suggested paying a GC a couple hundred for an estimate which sounds good until you realize you might do this 10-15 times before you buy a deal then you are spending thousands on estimates!

I’d suggest researching and staying open to different markets, then narrowing down your options to start building your team.

You could use a simple move-in checklist or form for them to document any immediate issues.

I would suggest changing your mindset from how you can save a few hundred bucks to how you can grow your income.

I always suggest starting with friends and family and even ask them if they know anyone who might be interested.

@Nick Belsky gave you great advice.In this situation, best to keep it as simple as possible, and I often give two offers; first, perhaps an all cash (way below market) and let the owner know that it is what it is--a below-market offer.#2 would be the seller holds the financing--I wouldn't go to a 30-year amortization, especially with an 80-year-old seller. 

It's easiest in terms of needing less capital upfront to get the business going, but it's certainly not a simple business.

@James HumphreyI would suggest speaking to local banks, and credit unions.

Definitely look into HELOC/cash out options, but if those don't work in terms of rates or availability I'd suggest using the existing cashflow from your multi to offset a primary mortgage, and then find a primary with an ADU.

It depends how much income you are getting in a year to determine the max loan you can get from a lender.Thank you for the house hacking suggestion!