Normally when a  property is advertised as "cash only" the property is in poor condition and/or the seller wants to reduce contingencies and opts for a cleaner transaction.

FHA loans only require about 3.5% down, so it’s a great way to start generating passive income while keeping your housing costs low.If you’re leaning towards renting for now, you could still invest by looking at fix and flip properties or even partnering with someone more experienced to get your foot in the door.

I normally recommend a turnkey single family home (3b/1-2ba)/ light cosmetic work single family as a 1st investment.

As far as I know, it generally doesn't work in the US anymore as you describe now that interest rates have returned to a normal level.I totally agree with @Henry Clark that, if I want to invest in Italy, I want mass tourism and STRs.

They normally work 50 hour weeks.  

In normal times i would think selling is typically the smarter financial choice, but at the current time keeping may have a significant finance (due to low interest rate) advantage.Here is a list of why adding ADUs in my CA market is typically a poor RE investment:1) The value added by the ADU addition is often significantly less than the cost of adding the ADU.

It's not normal to do it prior to an accepted offer.

And then I'd have to foot the bill...

We didn't buy much from the MLS and if we did, it was either a "handyman special" or it had been on the market 180+ days with a motivated seller willing to take less than market value.This will be the "new normal" going forward and a lot of newer investors will drop out of the acquisition market and just hold what they have.

Everything else is just normal cosmetic, interior finishing.