Line Item Fee Collected Rents 10% of All Collected Rents New Tenant Search & Onboarding $500 Business Hour Service Calls $80/hour + Materials Cost + Tax After Hour Service Calls $110/hour + Materials Cost + Tax HVAC Cleaning & InspectionGutter CleaningSpring/Fall Exterior CleanupSeasonal Mowing & Weed TrimmingSeasonal Snow PlowingGeneral Contractor Vendor Cost + 10% Oversight Fee

I have quite a bit of debt that I am working on paying off (luckily it was loaned to me by a family member with no interest and no deadline).

If you cannot find comps to provide a clear valuation for the ADU addition, underwrite for a poor valuation (no more than 50% of the hands off ADU addition costs).  

Ease of working with owner = easier for you to cohost --- some owners micromanage and 2-3x the amount of work for you for no reason.

They will say its just more volume but there is no differentiator.

@Brady Bitter First what are you calling "securities"? 

You can start by not calling us Boomers, lol.

We built a single family home version of a 2 bed 1 bath with surface parking at cost with no profit all in with land for 175k in newark ohio, a suburb of columbus ohio. when we push that to 3 units and closer to the city for our build to rent model the numbers go way better. a 30k slab for a single family home is 30k, a 30k slab for a triplex is 10k a door. we designed a 2 bed 1 bath design at 668 sq ft and it's very good layout even I would live there, but I would never build anything that small again. there's no economies of scale. you need density and shared lines, resources, shared roof shared slab, shared windows, etc the cost goes way down.

The loan is non recourse, so I have no personal liability.  

Well, this my opinion, if you like unpredictability, constant change and people/contractors with no regards to you or your property then "YES" flips and STRs are the way to go...LOL....I love it!!!