In my experience, a successful BRRRR typically comes down to two main things: finding a good deal and managing an efficient renovation.

The typical fee they charge up-front is $4,000, but they were able to get $5,000 out of me because I was new and nieve to the commercial lending agency. 

@Jim LynchSome typical minimum tenant screening requirements look like the following, but it depends on your market:-Renter has a gross monthly income of 3x more than the monthly rent-Minimum credit score of 650-Renter must have no prior evictions-No felons (or other notable criminal history)There are a number of different tenant screening softwares out there such as Zillow Rental Manager, TransUnion SmartMove, etc.Be sure to complete an employment verification by contacting the renter's employer and confirm the details they shared with you, landlord verification (if they have a previous landlord), credit check, and background check.

For management, self-managing saves costs and teaches valuable skills, but a property manager is essential for out-of-state properties or scaling your portfolio.

But, as my wife and I have done this over the past 5 years, we have found it moves less and less each time, and that we are essentially living the life we envisioned 5 years ago when we started this process. 

Typically this means they will take longer to close, may not have all the information for the companies they work with, and most hard money brokers get their money by taking an existing product and adding extra points to pay their fee.What is your investor success rate?

The properties that I like the best are typically in the B/B- neighborhoods.

Typically will be rent by rent strategy (which is tough for none owner occupants) or College rental.   

So, just so I’m understanding correctly, unless the ADU has a driveway for parking of its own, then rent rates might go down on the actual house bc, essentially, the property land is being shared by different parties?

It will include a compact bathroom, a tiny kitchen area, and a heater—just the essentials to make it comfortable for someone to stay in.