Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

We don’t know any PMCs to recommend in the area mentioned, but since selecting the wrong PMC is usually more harmful than selecting a bad tenant, you might want to read our series about “How to Screen a PMC Better than a Tenant”:https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processesWe recommend you get management contracts from several PMCs and compare the services they cover and, more importantly, what they each DO NOT cover.

The program is neither good nor bad, there's just different pros & cons compared to cash paying tenants.Have offered to schedule a call with you numerous times to try and assist you, but you seem to prefer posting & posting & posting - which will take so much longer:(What are the chances you'll actually invest someday, given how long it's taking you to do basic research?

Interest rates between a HEL and a refi are comparable, the equity in the property is equal to the value of the property and I only need about 50% to purchase another property.

That’s funny to me they compare a home that’s taking on rain from the outside inside, basements full of water all the windows broken, everything is wet and has to be re paired.

As you begin your REI journey here is one tip I have for you:Use this website as you are trying to narrow down the places you want to invest in. https://www.areavibes.com/Its awesome because it gives you a "total livability score" & you can compare different zip codes & streets to others. 

The median home price in Milwaukee went up 8.2% in 2024 - and I had to do nothing but wait, compared to a 4 month major construction job.So yeah: BRR(hold) and maybe refinace at some point if/when rates get lower

I agree with @Michael Baum, are they true comparables? 

What are the comparables in your market doing at your expected price point?

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.