The method selected on prior Honda doesn't impact this. 

>"The numbers" from a cashflow standpoint will mean different things for different people.I bet the people of Detroit prior to the grear recession thought the same thing   Last I looked their residential rents still had not recovered from the Great Recession.  

The unfortunate situation that many of my clients have faced prior to coming to me is that their smaller property manager was bought out by a larger corporation, and consequently their services were diminished. 

Is there a comparable service that charges a reasonable flat fee for sending the letters to the prior tenants, and then reporting the unpaid obligations to the agencies? 

If you move into the ADU, do so prior to placing someone in the primary.  

The prior owner's agreements with the tenants are as legally binding as it would have been with your signature on it.

I have this idea floating around to build an extension on the property or a separate ADU and finance it myself prior to refinancing, but that might be a bold move this early on in my REI career. 

The house was not inherited, it was sold for a $1 to us several years prior to the resident (a family member) passing away.

view=publicIt's a 3 bed 2 bath house, almost 100 years old, and the seller made a bunch of updates to the house (fixed roofing, foundation, re-ran electrical wiring, redid flooring, and interior paint) prior to me moving in.So far, I've added a dishwasher to the place, and here are my thoughts as far as other "value adds" go, but I don't want to invest the money if you guys and gals don't think there's much opportunity for a return on it...

The prior prop mgr told me the owner lives in Japan.