I enjoy helping BP members in any way to help build their real estate portfolio.

The inspection showed more issues than we expected but the seller wasn't willing to negotiate so we cancelled in the due diligence period.

The reality is that you need a lot of time and money up front to get your project started and you need to really work on building your credibility.

As long as the ADU is under 900 sq. ft. and meets the state building code, there will be no variance or special permit needed, so no ZBA or neighborhood meetings.

Only with a definitive goal can you accurately assess your options.What I hear you saying is that you do want to build a rental portfolio. 

A reserve is unnecessary, but I still keep around $15,000 - $20,000 in my account.The point is, that you should sit down and assess your finances to determine what the worst-case scenario may look like, how much you would need to cover it without impacting your life, and whether you will need to build a reserve.

In a previous life I projected managed 54 new builds and have done my own flips to stabilize my own neighborhood.

I am excited to start building my portfolio and learning all I can.

On my new builds we hit the double cash on cash in certain markets sometimes its only 50%.

Quote from @Anthony Pitruzzello: Please note in my question: "and an apartment over a large garage/workshop in a separate building (for me)."