This is just one item. 

At the end i will add a list of items why adding a single ADU in single family zoned areas may not be the best RE option.The most common value add is via a rehab.  

Your renters will destroy these items and want you to replace them. 

Don't over leverage and carry reserves.

I would try to buy properties starting at a specific date so not large ticket items come up.

I carried double the cost on Gas and Electricity to be safe. ==== Projected Income ====**Off Season**-$4,000/Month Rent Period: September - May (7 Months) Projected Income: $28,000**Summer 1**-$8,000/Week Rent Period: June (4 Weeks)Projected Income: $32,000**Summer 2**-$8,500/WeekRent Period: July-September (12 Weeks) Projected Income: $102,000**Optional** (Basement Apartment)-$2,000/Month -Rent Period: Year Round Projected Income: $24,000TOTAL PROJECTED INCOME: $186,000 ==== Operating Cost ====-Mortgage: $84,000 ($7,000/Month) -Utilities: $36,200Gas $6,000 ($500/Month) Electricity $6,000 ($500/Month) Internet $2,400 ($200/Month) Garbage $5,000 (Estimate) Pool $4,000 ($250/Week)Landscaping: $4,000 -Mowing: $2,400 ($150/Week)  -Clean Ups: $1,600 (Spring & Fall)-Weekly Turnovers: $8,800 ($550/Week)==== Legal Cost ====Summer Rental Fee: $20,100 (15% of $134K)Sandwich Rental Tax: $6,855 (15% of $45,700) NET PROFFIT: $38,845.00

Garbage disposals are my most often replaced items. 

If I am all in on the property for 360k (purchase and some finishing construction as well as carry costs) and the home is valued at 450k or more (based on what im told by agents as well as my own analysis while staying conservative), that is 20%+ equity I believe, unless I am missing something.

It’s ran like a business, not a personal investment.Given the heavy workload I have being the CEO/founder of the wealth management company, my wife has set up a well oiled machine on the property management side, due to her perfectionist drive however, it still means that she's constantly dealing with tenants and toilets and replying to items at all hours of the day and night.

I figure the ones over 50 or 60 years old have already had all the big ticket items replaced.