If you want to spend 11k for that go right ahead.

I know this post was from a few years ago, however, i'm very interested in understanding how did this ADU addition turn out and if you went ahead with the plan.

If you genuinely think you have enough money to go ahead and buy a multifamily home, go do that.

You’ll probably get a contractor for all of these anyway, but if you can look at the problem (like a roof) and sort of figure out how it works to fix, you’re a good step ahead.

But knowing those points puts you ahead of the competition.

Unless you're in a rush I'd wait to see if they allow pex as it's much cheaper and a lot easier to work with.

Check with a tax professional, but if you have lived in the home for 2 of the previous 5 years, you may not owe any capital gains tax, and so a 1031 is irrelevant.If you didn't you may want to wait.If you do go ahead, read about 'mortgage boot'.

If, while running your numbers, the returns are within range to your criteria, do not lower the expenses to "make it work", but just know that some months may be higher, some may be lower, and if you have the cash reserves to support a higher bill or unexpected repair, then the underwriting at least helps you mentally prepare ahead of time.Any calculator, based on the inputs from any noobie or seasoned professional, will NEVER be the same as your actual numbers.

Online info and webinars are great, but you have to go to meetups to workshop what you are learning with others doing the same and others ahead of you on their journey.

Looking ahead to 2025, our strategy would be to buy a second STR.