Investment Info:Large multi-family (5+ units) buy & hold investment.

As you mentioned intentional flips are typically considered inventory-This means the income is ordinary income and as such: - Is not a capital gain, so hold time of 1 year does not change to a better long-term capital gain rate - Can not be invested in a QOF Deductions related to it can't be pushed or changed- all costs are accounted for with the inventory component 

Investment Info:Single-family residence buy & hold investment.

A hands-off garage conversion ADU is over $100, even doing much of the work yourself, it will be much more expensive than your estimate.Single ADU additions in single family zoned areas are typically one of the worse re investments. 

How much net profit in general should I look for on a long term buy and hold rental property like this?

Investment Info:Single-family residence buy & hold investment.

You can contribute by finding deals or managing properties in exchange for a share of the profits.Lease Options: Control properties without owning them by renting with an option to buy, and potentially sublease for profit.Owner Financing: Buy properties directly from sellers willing to finance, bypassing traditional lenders and often requiring less upfront money.REIGs: Join real estate investment groups to pool funds with others for property investments.For a more hands-off approach, investing in turnkey properties in growing markets with minimal upfront investment would be ideal (like in the Southeast and Midwest of the country).

On the other hand, Tucson’s landlord-friendly environment could make property management easier, especially with your familiarity with the area.

I used $80k to pay off personal debts and $50k to remodel it by myself with my two hands.

Those hold about $250k worth of equity.