- The current low rent is probably to offset maintenance issues at the property.- Try to raise the rent and the tenant will give you a list of all the maintenance issues they want you to fix. --- They will offer to fix them in exchange for lower rent, but ask yourself, if the tenant has been living there for 25 years, why isn't everything fixed already?

It also allows you to manage paperwork and document communications with Tenants. 

I started communicating the details to the current property management company which has a great reputation.

But then it was a nightmare of communication, we soon realized that we had to do a bunch of songs and dances to convince them to sponsor our deal, it took 4 or 5 days for them to make time to sit down with us only to tell us that we needed to schedule another meeting in another 4 or 5 days to get Tyler on the phone and let us try and convince them to sponsor us and by that time someone else was awarded the deal and we lost out.

(Not factoring any issues)  Is this a bad deal?

I am on the Neighborhood Building Owner's Alliance weekly calls, and we had this ADU issue come up.

You can often get better rates with a national lender, but the customer service is non-existent, communication probably sucks, they may ask for the same documents multiple times, etc.

However, if you clearly communicated a $15K budget, I’d stick to that and ask them to discuss the overages with the contractor to find a resolution.As a side note, always try to maintain reserves for your properties.

This house has several major issues wrong with it but there are 2, I am unfamiliar with. 1.

Quote from @Neeta Agrawal: For context, we gave the tenant a 60-day notice for non upkeep and no repair communication in 2023 and then extended it for 30 days upon his realtor's request, setting the move-out for May 31, 2023.