It would cash flow nicely.One item to plan for from the beginning is the exit. 

Basically almost all the items you mentioned when traveling can be written off to a certain extent.

Due to item 1, adding an ADU can require years to start achieving any return (once the accumulated cash flow recovers the initial negative position).4) Adding an ADU is a slow process.

When an owner replaces or retires certain items (e.g., lighting, HVAC, or carpeting), they can claim a deduction for the remaining undepreciated value of those items.

Will not yet be ready for window treatments as the renovation is still ongoing, and getting closer to time when itemized list of damages are to be furnished. 

Protection from lawsuits is a big item to consider as well, especially in higher price range properties. 

I think negotiations on knocking the price down on inspection items on value add will be huge especially if its a flip like you mentioned.

The owner also needs to save for big ticket items that may need to be replaced every 10 or 20 years such as AC, hot water heater, furnace, roof.  

It’s ran like a business, not a personal investment.Given the heavy workload I have being the CEO/founder of the wealth management company, my wife has set up a well oiled machine on the property management side, due to her perfectionist drive however, it still means that she's constantly dealing with tenants and toilets and replying to items at all hours of the day and night.

Once I get to a point that it is making enough per month that I feel comfortable taking money out of the business that would be when I get to the point that it is worth have a specialist assist me in all deductions, credits, and future items that will help me to transfer from a W2 to working for myself fully.