Is this price differential largely a matter of how high-end you make the finishes?

My main concern is the interest rates being so high now as to whether what I'm hoping to achieve is really even possible. 

Some theming is basic and some is overdone, try to be unique or at least high quality, not a place you want to skimp.

Besides that, just wanted to chime in real quick - I'd highly check in with a CPA and I am no tax expert, so wanted to preference that.

I has two GREAT property managers that immediately come to mind, one handling 5 high end high rise condos I owned in Phoenix and the other one handling a 12 unit very lower end apartment building I owned in Arlington, Texas.  

Talk about aiming high, right?

I have not done stats but there is a high failure rate for people who are walking the property every day.

I've decided that finding "deals" in Arizona is unnecessary as there are other markets that one need not search high and low to find something that can produce a decent cash-on-cash return.

In San Diego at the current rates for a purchase loan (which has better rates than an ADU additions) at high LTV, I show 1% does not cash flow on a sustained basis.  

Low LTV, 30yr fixed @4.5% personal (1)• Investment condo - new const. high end purchased w/1031 (from 20yr quad) in 2019.