You have to decide what your time is worth to either take those 8 phone calls, or hire a PM - for us we would rather keep the $10,560 you could potentially pay for PM service in a year for the 4-plex and take the 8 phone calls (yes oversimplified - but you get the point!).

Accepting even a small amount can complicate the eviction process and potentially delay your ability to terminate the lease in court.

Educate the land owner on the potential profit run the numbers and go over the basic proxy and blue prints.Make sure you have a seasoned and qualified Builder/GC because they can be a deal killer with wasted time and inflated material and extended completion dates.

Just start.Pick a good area: Look for neighborhoods with potential – something that feels right to you.Think long-term: Are you looking for steady cash flow or hoping for big appreciation down the road?

That said, I’d make sure to document your intent to occupy each property clearly to avoid potential issues later. 

Many experienced investors adapt by targeting deals with slightly higher percentages up to 75-80% while carefully analyzing potential risks and margins.

The income approach might also be used, evaluating the potential rental income the ADU could generate.

They provide diversification and liquidity.1031 Exchange into Syndications or Passive Investments: This keeps you in real estate but shifts the burden of management to others while potentially preserving tax advantages.At the end of the day, peace of mind is priceless.

Building a network here can open doors to partnerships, mentorships, and local insights.3.Explore the Blogs and Podcasts: BiggerPockets has tons of content—blogs, podcasts, webinars—that cover everything from beginner strategies to advanced investment tactics.4.Utilize the Deal Analysis Tools: If you’re considering an investment, the deal analysis calculators are invaluable for running numbers and understanding potential returns.5.Set Clear Goals: Define what you want to achieve, whether it’s learning a specific strategy or connecting with certain types of investors.

We live in Lakeland, TN 20 miles from the Blue Oval site and I recently had a new BO employee rent one of my homes with a potential to sell in the Spring/Summer of next year.