I can understand their concern, but I know people have done this.

If you are more concerned with appreciation and less about cash flow, I'd suggest that you look at Hoover, Vestavia, Trussville, etc. 

Since rarely are properties on the Oregon Coast (or anywhere for that matter) in flawless condition, generally post receipt of the inspection report there are items of concern that buyer(s) will want repaired or compensation towards. 

There’s concern that any rent below $2500 will result in negative $2-300 a month.

The main concern is passing the responsibility of the association.

I would be more concerned with the location of the property.

I guess my main concern is, is it worth taking the steps to purchase now or do I need to get more ducks in a row before starting my journey into the REI world?

I'm concerned about noise issues travelling to the downstairs unit and am investigating putting a roll of cork over the MDF boards that are on the floor. 

That's ~12% Cash on Cash return which seems pretty good/decent.My concerns are by doing this, it would reduce my rent price on the main house (most likely since they'd be sharing with other tenants on the property) and also I'm unclear whether adding an ADU would negatively affect the value of the property.Option 2Consider converting the property into a short/medium-term rental, specifically to travel nurses.

Think about what your biggest concerns are in the transaction and find providers to address those.