And as investors we should know this, but always anticipate higher costs and longer waits.EXAMPLE Breakdown of Costs:Plan Purchase: $1,500Permitting Fees: $2,500-7,500Site Preparation (grading, utilities, foundation): $20,000–$30,000ADUs require separate utility connections for water, electricity, and sewer but you can tap into existing utilities at the primary houseIn Raleigh you CANNOT split lots fee simple, so setting up completely separate utilities would not allow you to section off the ADU as of nowYour ADU must be on a permanent foundation (no wheels, no ability to move the structure)Construction (labor and materials): $100,000–$150,000Low-grade: $150–$180/sq ft averageMid-grade: $180–$220/sq ft averageHigh-end: $220–$250/sq ft averageLandscaping/Finishing Touches: $5,000Total Estimated Cost: $125,000–$200,000You could easily spend $200k+ with super end high finishes, custom designs, complicated sitework, adding a second story or more sqft, etc.

This stuff doesn't have to be complicated.

Still, maybe you are over complicating it by trying to buy MF (a difficult asset to manage) on the other side of the county in an area that you have no experience investing in. 

This is true, but can increase your chances of success by working with an experienced team.Financing Challenges: Unexpected rate hikes or tightening lending restrictions can complicate your plans. 

You'll have a property manager do the management (so you being close to it is not needed).Yes there are risks for some people to go out of state but if you learn the techniques like I have, you'll see it's actually easier and far less risky.

Your goals don’t need to be overly complicated.

The Title Holding Trust or Land Trust will keep your name of the public record, but it can also complicate the property ownership and management. 

Examples could include:Partnering with other investors to share risk.Using seller financing or lease options.Leveraging creative rehab techniques to save on costs.Negotiating with contractors in a unique way to reduce expenses.I’d love to hear any stories, tips, or approaches that helped you pull off a deal others might have instantly passed on.

I think you may be over complicating it.  

After a long and complicated history with the current tenant, I’m now starting the eviction process.