Now granted this is rare to the extreme but if your the one losing out its painful.

Establishing a relationship with a few of them locally or nationally [if you have a network] would be extremely beneficial.

Let any potential renter know that you intend to convert the garage into an ADU and address any potential issues created by adding the ADU (parking, shared yard, quiet hours, etc.)

It’s clear that this partnership was strategically kept quiet. 

When I started, I used a $64K HELOC, and today, I’ve grown it into a $3,000,000+ portfolio.That being said, BE EXTREMELY PICKY with your first property.

Keeping investor money safe in this environment requires extreme amounts of investigation. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.PM us if you’d like to discuss this logical approach in greater detail!

Its extremely important when running tighter margins like what you're talking about to focus on age of HVAC, water heater, appliances, roof, etc.

This can be extremely costly.We have a two step program has no waiting period at all and will end up being quite a bit cheaper then the 3 month waiting period on closing costs, rate and NO pre-payment penalty. 

The other extreme is you could be your own GC and price out the various trades you need and coordinate the schedules.