The problem with taking on a second property that needs work when you already have one is when major things break in both at the same time.

did half the flip work, sold with new walls and new electric/plumbing.

Do that a couple times.

Reducing risk requires at least some time spent in research and involvement in a deal.There are many other things you learn along the way as well. 

Most of the time, an ADU will cost 100k just for that part and then you have to actually build the cosmetic part for an additional 40-50k. 

Real Estate Professional = 750 hours and more time on real estate than anything else.

Lenders or investors who have short lock up periods but have years of experience feeding their business with new capital would give me more comfort but anyone who is just starting and is promising a rate of return or return of capital in a set period of time would be alarming because they very well could be reliant on fresh capital to make good on that promise and that usually ends poorly.

in a stick frame market and one of the cheapest markets to build we build with margin at $190 or so a square foot. that will go up over time about 5% or 10% a year to keep up with new build price increases. we are buidling a 3 story walk up and source some of the lowest priced crews.

At this time I manage and renovate majority of all my units to keep cost low but most likely not the best use of my time although I'm skilled at it.

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