We ended up buying one house to turn into a vacation rental and the two other options were one- a stand alone commercial building and two- a ground floor unit (currently occupied with a tenant for another 3 years) of a building that is in the process of being turned into condos. 

I will venture an educated guess that if property without ADU has a value of $800k and $200k was spent on hands off ground up ADU, the appraisal associated with a refinance will come in no higher than $900k. 

We offer physical site visits for properties above $2.5/3M or if it's required by the client.Around 95% of our studies are done virtually but if you need boots on the ground and it makes sense for your property or portfolio, we'd be happy to help. 

Outside of that, I dont naturally feel I'm in danger because I have an accurate and grounded perception of what the situation actually is. 

My agent/property manager will be my boot on the ground and supervise the rehab. 

You can find also try to find a reliable local partner/boots on the ground. 

Tennessee’s no-state income tax policy can be a nice perk for long-term wealth building.Indianapolis Pros: Having real estate connections in Indy could give you a competitive advantage on deals, local market insights, and trusted contractors, which can be invaluable for a BRRRR strategy.Ultimately, your “competitive advantage” might be stronger where you already have boots on the ground. 

My bread and butter for a number of years were ground up $250/sf outsale single family homes and condos but that was when I could build for $100/SF.

Orlando still seems like a great market so all things equal probably good to start out closer to home where you can have your own boots on the ground

I think with Boise in particular, and the pacific Northwest in general, positive cashflow is difficult to achieve, especially for an out of state investor since the market is so competitive.Even with boots on the ground, cash flowing properties seem to be a unicorn even when purchasing for 70 cents on the dollar.One opportunity for cashflow in Boise is the ADU play -- new regulations make it more conducive and returns can be 10%+ cash on cash for a property in the right neighborhood.- Kole