True, most lenders will require seasoning - I have lenders that do not require any, and will allow clients to cash out based on the appraised value, rather than purchase price + improvements only. 

- Run your numbers (including all operating costs including property mgmt) based on current rents in AS IS condition and renovated.

This will give you the base knowledge of rehab costs, ARV, and overall knowledge of the flip process (invaluable knowledge).

I’m a Portland-based real estate broker and work with many investors navigating cross-state purchases.

Based on the fact that new construction is currently at a relatively low premium when compared to existing construction, I think this strategy might be a good option.

18 - What will the length of cabinets be, upper and base?

I suspect maybe something like Hagerstown or Cumberland, which yeah are Class D like markets with declining populations, high drug problems, no strong job base which leads to non paying tenants.

Based on the additional sq footage, the ARV after the ADU would be $487k.

I found he was glad to share his thoughts on the likelihood of approval, probably based on past hearings with neighbors in the area.

The experience varies based on location, tenant management, and financing, but overall, it’s an excellent way to get started with minimal upfront costs.Good luck!