Interesting in hearing feedback and pricing comparables to an off market potential deal where I have met the owner who is willing to sell his 3 units building (SFH with 2/2 and behind it an ADU with 2 other 1bed units and 2 car garage).

If you ask nicely and promise not to share, you can usually get good financial information on the properties that are currently operating as a STR.If you're just starting out looking, you may not be aware of just how many cabins out there are poor quality builds due to the lack of codes.

I was going to use this home as my primary residence and do the 203K loan to build a ton of equity How did you find this deal and how did you negotiate it?

I get quicker responses, guidance, relationship building, more trust, and overall feel like their quality is a lot better in terms of inventory/customer service.

Make sure you know the value the ADU will add to the property before building the ADU. 2) the financing on an ADU is typically far worse than for initial investment property acquisition or is often not leveraged by the ADU (HELOC, cash out refi, etc).

It's just like a constructing a new building it's all the boring stuff not much to look at and seems to take forever.

Income properties are an excellent way to start building your investment portfolio.

It was those 2022 delivered  projects where I became an accidental landlord that led me to focus more attention on building to researched housing needs rather than simply replicating the inventory other's bring to the market and it's been a game changer for me and my business. 

If you figure it takes a few thousand to build a new bathroom, but you can charge an extra $50 for that room.

That said, I'm looking to BRRRR this upcoming year, but that's only because the first 3 properties allowed us to build up enough capital for this strategy to make sense.