After buying these new rentals, he will still have about $90k in cash to spend on upgrades and furnishings.

Instead of being transparent about it, you had me spend a bunch of money on things I shouldn't have since there was no intent on closing the deal.

Also, what if you spend thousands of dollars on a brand-new DADU, only to have the seller reaqcuire the house?

It’s a longer-term game, though, with higher upfront costs.I’d say spend some time researching your target area and connecting with local investors or meetups—they’re goldmines for market insights and networking.

The ways around that are to build a business around supporting their voucher and inspection program and spending no small amount of effort ensuring they are smoothly servicing your rentals. 

I'd use an approved underlayment.Pro Tip: If it's cheap, it's not good.....at least spend in the moderate range.

The only thing that bests fear is courage and we only need a mustard seed of that to get things going...People often spend money on college and never go in to the field they spent that money on...the greatest lessons and the ones most remembered are learned 'on the job'.Wishing you more good news in the future and an exceptional 2025. 

Life it too short to teach people that won't follow through...or to spend money learning stuff that you won't apply.

That being said due to the number of sharks out there I would only spend money that I can afford to lose. 

They seem to have a great system and I know they spend years before deciding on where to build there projects.