Walls should be neutral (light grey or white) with pops of color to make the listing stand out3.

Fresh neutral color paint is one of the cheapest and most effective.

We're looking for something at lease cash flow neutral (obviously would like to make something) that we can use in the off season and someday use several months a year ourselves.Any thoughts?

This is because the negative initial position will consume the initial cash flow to achieve a neutral position.  

I am fairly neutral about how they want to execute their projects, but would like to hear more thoughts on why, so that I can be more informed for those I am working with.I have seen it done successfully with the right property and the right additional factors such as neighborhood, access, lot size & layout, quality of build, other ADU comps, etc...

This particular block has a neutral rating in terms of appreciation.

Instead, they use a Qualified Intermediary (QI) - a neutral third party - who holds the funds during the process and ensures they are reinvested into the new property.Reinvesting All Proceeds:To defer all capital gains taxes, the investor must reinvest all the proceeds from the sale of the original property into the new property.

It's possible to still find cash flow neutral or even slightly positive homes, however, IMO the reason to buy here is simple.

While getting some cash yield would be great, my main objective is for the property to at least be carry neutral (inclusive of property management fees, given I'm out of state).

If you have bold colors, repaint in neutral colors, de-clutter the apt, clean the bath and kitchen, etc...