REI is a long-term venture; if you cannot hold this will be a very difficult process.  

They equate the period leading up to the time its ready to rent as the risky part of the real estate process and pay a premium to bypass that part but this leaves them with unreasonable expectations because the real estate they purchase is inherently risky.

3.Any recommendations for contractors or permit expediters in Covington who can assist with this process?

I've been reasonably happy with this so far, since it's made the process fairly passive. 

I recently completed one on a multifamily property and found it to be a cost-effective approach.That said, there are a couple of additional factors to consider beyond the code differences between a garage conversion and new construction:Coastal Overlay Zones – If your property is in a coastal overlay, building a ground-up ADU may require Coastal Commission review, which can add time and complexity to the process.

A common pitfall is treating each deal as a standalone transaction instead of connecting acquisitions, financing, and project management as part of one cohesive process.

Having an exit strategy can also just simplify the process in case one of you has a life event and needs to exit the deal.

Definitely look at the reviews and ask about their whole process.

It’s likely the GC will subcontract the concrete work to a specialist while they focus on managing the permitting process and ensuring everything is done to code—especially if there are ADA requirements involved for the ramp.Let me know if you need help navigating the process or any tips for working with contractors.

This aligns with my interest in passive income.I realize I am not cut out for the entire REI process of consistently finding multiple properties for particular exit strategies.