In my mind this is the "sweet spot" for a first property purchase.

I wasn't going to be able to watch this one because I had a local REI meetup and then North Korea broke BP, now I can attend SWEET!

However as an ADU, well done,, as Jay mentioned, or a vacation rental as Leigh Ann wants they can make a lot of sense due to the type of tenants/renters they are attracting which is a very different demographic then trailer parks or apartments.You may want to google "Home Sweet Tiny House"  The author popped up on BP a couple months ago to give away the book for free - I think he is charging a dollar now on Amazon. 

For my specific neighborhood in Manhattan, the minimum was $1520/month for 7% of the available impressions.  20% was $4,055/month, and the supposed "sweet spot" is 40% at $7,700/month.  

Is there even such a sweet spot?  

Sweet deal, thanks for sharing with us, and you never know what you can come up with when the other party is clueless...

Two of those tenants are still living in their original apartments 12 years later.... sweet!

You might have to give them a cut of the proceeds but that doesn't matter as long as you are making your sweet spot on the profit.

We are buying the last of a subdivision form MY bank so I got a sweet heart deal. they sold them to me one at a time at the BULK price.. and they are financing them at 90% of cost.. a few years ago they would have done 100%... lot prices are 40 to 70k with sales prices at 350 to 450k.. and permits at 15k.. now its the coast so prices are more to build but here should be good margins here as well.

It is difficult to say exactly what is going on other than the bank doing what to do best, take they ole so sweet sweet time!