I also live with my parents still so my expenses are essentially just my car, food, and Phone bill.  

Grand Rapids is definitely a good market for multifamily investment as it has also seen rent growth unlike other parts of the country for multifamily.It is also a more affordable place to invest compared to other parts of the country and Grand Rapids is generally landlord friendly.A quality property manager is essential for an out-of-State investor and there are some good ones locally.To Your Success!

DSCR loans are also a great tool if your rental income supports it.Biggest challenges for new builders are delays, budget issues, and team management.

Any tools I should look into for these metrics?

It's an easy way to get funds for an ADU without securing a separate loan.Renovation LoansIntended for home upgrades, these loans can cover design, permitting, and construction costs for an ADU, making them an all-in-one solution.Private Lender LoansSome private lenders offer financing specifically for ADUs, with faster approvals and more flexible terms compared to traditional banks.Why it matters for agents and investors: Real estate agents can guide clients toward these financing tools to make ADU conversations easier and more practical.

Another thing I would mention here is that if you are in a dispute with this other party and want your rights represented, legal counsel is an essential part of the process.

Never take someone else's word for what the ARV and reno costs will be especially if they are trying to sell you the property... guaranteed you will be underwater by the end of the deal.Pulling comps that you know are valid are essential. 

(Tools, spreadsheets, etc.?)

As such, it is a tool I use to keep money working for me.

Would tax deed sales be essentially the same process?