If you are willing to wait we are most likely going to see 100 basis point cut over the next year and a reduction in the spreads that lenders are working off of.

I’m still waiting...

You mentioned not having a good ROI with them?

I'm going to get a survey regardless, but I'd like to line all this up before I start spending on soft costs.The weird thing is I see other investors doing these DADU deals and I've never heard anything mention the above requirements / scenario. 

Sponsor quality far surpasses the "deal", assuming a qualifying criteria for a "good sponsor" is that they don't buy crappy real estate deals to begin with.Having said that, if a great sponsor is offering a deal you don't like for some reason, don't invest in it--just wait for the next one. 

The letters and post cards are coming to my personal address but they don’t mention the property in question.

If you can wait until you have legal status that would be ideal, but may not be absolteuly necessary if you want to get a jump on things. 

Mostly on trade accounts with local businesses for the materials, some business credit cards, some of the contractors were OK with waiting 30 days for payment. 

If a seller listed a home for $100,000 but was willng to sell for $94,000 as that was likely the FMV, it would be the same to him if he accepted $100,000 with a 6% seller credit or $94,000.I looked at the zip codes of lower priced homes in Memphis, Cleveland and Indianapolis and they appeared to perform betterMemphis38105 - Prices were $35,700 in 2016 and now $116,000(220%)38106 - Prices were $21,600 in 2016 and now $60,900(180%)Cleveland44108 - Prices were $34,000 in 2016 and now $59,800(74%)44104 - Prices were $36,300 in 2016 and now $60,400(66%)Indianapolis46201 - Prices were $42,900 in 2016 and now $149,000(247%)46222 - Prices were $39,000 in 2016 and now $127,000(225%)I should mention that I don't invest in Memphis, Cleveland or Indianapolis.

@Katharina BormannHi Katharina, you need to put something in writing to the tenant with a reference to the lease clause to officiate the lease violation, as @Nathan Gesner mentioned.