Appreciation will be low, and it would be harder to sell when / if the time comes (again, people point to that often times cheap houses sits on markets for months at a time, versus in seattle it sells like hot cakes)Upside of local investment is that it appears “safer” - I know the market, I can drive to it to make sure no one “Morris”ed me, and when the time comes to sell / 1031 - hey, it’s easy, and it most likely will come with good appreciation (I know, appreciation is not guaranteed; it’s icing on the cake).What would you guys do?

If it makes it seem any worse, then we didn't find this out until AFTER I had let him go (in other words I let him go for other reasons but then found out he lost the key as the icing on the cake).You might just be right about having me eat the cost of the key now (I was going to re-key when she moved out anyway).

However, I view appreciation as icing on the cake.  

Sustainable cash flow was the real goal here for my first deal in KC, so getting my cash back would be icing on the cake.

Speculation can work out but it’s icing on the cake 

If other investors take advantage of the OZ and the demand goes up we should get some icing on the cake via appreciation.

The icing on the cake was getting paid 3% commission when I represented my wife and I as the Buyers and then another 3% commission at closing when we sold it to our tenants.

Additionally, If your city does not have their own individual ADU compliance rules signed into law and regulations by Jan 01, 2020 they must default to the state rules with no additional requirements.John, my understanding was similar to yours regarding parking, the property I just purchased in Anaheim with detached garage is less then .5 miles from public transportation, yet my initial ADU report from Hausable states I need one covered parking spot.  

I guess I can't have my cake and eat it, too!

I’ve been in other groups and forums but this one takes the cake.