I invested in Jacksonville, FL, because my old job would fly me there multiple times yearly.

The first house that I bought was 17 years old, 3 br, 1.5 bath, brick ranch house with hardwood floors, Andersen windows, ceramic tile baths, gas heat and a brand new roof. 

It can take a year or more to complete an ADU.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Build - rent - refinance -repeat. in columbus ohio you are buying old houses that are 1900 or 1920 or 1940 and you are in a sellers market. on the other hand you can source land which is a buyers market and build single family homes or duplex or triplexes that will return by renting and pulling cash out on a DSCR loan and doing it again. there aren't a lot of strategies that do this. flipping is different. so many risks. but when someone has a well oiled machine it's all good and less risk.

Many areas have experienced a moderate slowdown last year, and are temporarily (my opinion) stable, and seem poised to soften from the high prices we have seen in the past couple of years. 

the midwest has lower price points than other areas of the US, sure, but it also comes with its own challenges - for example, very old housing stock, lots of deferred maintenance, and tremendous demand for the best properties."

I've only been in real estate accounting for 20 years and spent a good 14 years using Yardi, but what do I know. 

You can be super hosts for 10 years and have 0 claim experience.

Sure it does. but depending on who the celebrity is/was.....That's why so many little hotels, boarding houses, vacation rentals, etc..... feature this in their advertising.And in some cases, you will not get more money, but you will get more guests.A little while ago, I went to Tombstone AZ and stayed in 'The first boarding house in Tombstone'....really cool place but kinda small and, well....old feeling.