I may not have been clear enough: the ADU is already built, we will just need to do cosmetic fixes (literally painting and rebuilding the shower just because it is super old).

I've also built dozens of additions, garages, and new Builds, including cabins in the Cameron Peak fire area. 

That's exactly how I built my portfolio in Detroit.

Perhaps the largest reason is because you need a website that is built correctly.

I have the big enough equity built in my primary residence which I can use for HELOC or 2nd mortgage if it is needed.

The property also needs Foundation drip zone installation.

Thanks A lot has been written on BP about R2R and everything looks solid.I'm a big believer in sticking with 1 market until you build a large enough portfolio and diversification is justified.Like with many investments and not just turnkey, it's important to build a large portfolio.The time and associated risk isn't worth buying 1 or 2 properties if you expect a significant impact on your bottom line monthly cashflow.Most turnkey properties are sold at fair market value or slightly above.Nothing wrong with this as long as property management is solid and does their job with integrity.Buying turnkey you won't have built in equity so no growth can be manufactured and you will have to wait for the market to grow to see an equity gain.Thus, IMO it's important to have mindset where you endeavor to build a large enough portfolio so the monthly cashflow makes sense and the portfolio becomes safer.Much success

Additionally, especially for groups that built their company on retail investors, it is a major shift and risk to step away from dealing directly with decision makers (many retail investors will see a few ads or hear someone on a podcast a few times, have a couple calls and invest.  

Not sure how much research you have done on the area but with the Amtrak being built that will allow travel from Scranton to NYC, I’m fairly certain that gentrification will start taking place before 2030.

@Laura Williams there are different underwriting guidelines for apartments versus a HOA, but both spaces have very few option for buildings built prior to 1980.