I didn't make any renovations as the property was already in good condition.

Renovated the basement unit, new roof, new soffit/ facia, new gutters, new exterior paint that was paid for by seller.

I would suggest going to independent landlords and staying away from larger apartment complexes.

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

He can probably recommend a civil engineer that works on smaller projects like this (mine are all engineers working on larger developments not residential) and can likely take the lead on the permit process for you. 

Turnkey properties are already renovated and tenant-ready, meaning you can focus on the investment side rather than dealing with major repairs. 

@Dave Bobka @Justin Arnold So, if an investor is looking for a larger, family style home for a Section 8 tenant that is dependent upon public transit, this would be a great property, wouldn't it?

Feel free to inquire about their staff qualifications if it's a larger organization.2.

You'll learn a lot just from starting out like that with little to no experience at all (cosmetic renovation cost, managing current tenants, leasing out a unit).

If they can build a larger home and sell it for the same or more rather then building a couple small homes why do it?