I ended up closing on a duplex house this week with the intent to rehab the whole place.

They are often located in desirable neighborhoods and are close to good schools.

I think initially it makes sense to find properties that already have finished basements, in-law suites, etc. as converting those spaces to ADUs will be inexpensive and create a significant amount of rental income ($2,000/month+ in most areas close to the city).

I assume you would use your own $ to put property under agreement and get investor to close around same time, but if not you will have 1-2 months of holding costs plus time to renovate and time to sell the property.

I do plan to consult my real estate attorney who handled the closing but this is his busiest week of the year, so I definitely don’t want to bug him with something that isn’t extremely urgent until after the New Year.

I don't personally own any properties leased to housing choice voucher recipients but heard from others who are having trouble leasing their properties.

Quote from @John Teachout: Title work is typically done as part of the pre-closing paperwork.

For details: One example property is a SFH, south west of Little Rock (close to 430 and 30 intersection), price is 230.

So if this $330k puts them close to the limit, and the market makes a downturn, there will be a margin call.

You certainly can ask the seller to make the units vacant before closing.