But if you're willing to take a tiny leap of faith, I think the returns are solid, the diligence and the integrity are there, and the states/markets/submarkets and the asset class are thumbs-up.

There are times when the market increases or decreases rapidly.

I’ve got two PMs right now but that’s because they’re in different markets

Talk to @Grant Shipman about a possible different way of marketing them to the subgroup who gets it.

The market is tough for everyone, new and experienced.

Or you have off-market deals you want to sell to them?

I have owned 4 short term rental in those markets.

But keep in mind if your using money you cant afford to get back then buying action property might not be appropriate for your current endeavors and its better to just buy open market were you can do proper due diligence and know you have a build-able site.

@Matthew McCarty At the beginning of my investing career, I was constantly looking at websites like Zillow and Redfin to see what houses are selling for so that I have a good feeling on the market I picked.

Anyone who managed to do this probably did it 5+ years ago when the market was very, very different.If you borrow $200,000 to build an ADU, I suspect you would need to rent it for $5,000 or more to make the numbers work.