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).

I prefer driving for dollars and use my mailers from a 3rd party company after building my list.

You'd be better off building a solid emergency fund and developing relationships with reliable local GCs.

Husband is also a licensed building contractor and wife is a realtor (if it matters).We are trying to determine if it makes the most sense to put our first property that we are purchasing together into an LLC or not?

So spend NO money on advertising and use that money to make our product stand out.. this has led us to raise our prices Far above our competition more than makes up for it and we sell them as fast as we can build them.. for us thats delivering 2.5 homes per month. 

One of the biggest pitfalls is the age of the buildings I'm looking at. 

Building out my portfolio with strategic, secure passively cash-flowing assets to continue to build leveraged equity.

We only buy SFRs to rent them if we can build it into a 3-4 unit property, so the main house is just 1 out of 4 units to comp out.

More questions, more authenticity, the more your confidence builds too.

Usually only commercial properties with established operational expenses histories are evaluated by cap rates and then those cap rates can also be applied to buildings in certain areas representing higher or lower risk areas.