When you bring in intentionally say 20 million illegal immigrants you lower the wages on lower income people both by their wages and increasing their cost of living thru more competition for resources.  

FHA loans can be a good option here, allowing you to put down a lower down payment.## NetworkingNetworking is key in real estate investing.

He said it kept the bank from having to execute the eviction process, it salvaged the owners credit by not having a foreclosure on it, and the buyer gets it a much lower cost, because of the leverage of the impending foreclosure.

Your PSF will be much lower than it would be adding one small unit per lot.One thing to note is more than 4 units or more than one ADU changes the financing that is available.  

If for no other reason the more predictable and lower maintenance costs are a huge benefit.  

I tried calculating value based on NOI and cap rate (see below) but I'm new to this and the value seems to come out lower than I would expect.

There are definitely options for less than $100k, just depends on how much lower - $75k is doable but less than that gets a liiiiiittle tricky (although still doable in some cases).

For the lower value properties they generally create less tax savings and it may not be worth it. 

Will you get a lower rate waiting? 

So, if your current rent roll is still on the lower side, it could limit the amount you can borrow right now.However, if you have even a partial track record showing improvements.. say a few of the units are already updated and attracting higher rents.. a lender might take that into consideration when underwriting.