As many have mentioned already, I would not do an out of state deal as my first deal.

Also not mentioned but worth noting.

I'm doing exactly what you mentioned about buying, adding ADUs and either waiting or "flipping" them to build comps.

@Tamika Davis One of the biggest advantages of most software on the market is to complete these tasks you mention (maintenance, leases, rent collection, etc). 

Like I mentioned in my previous post getting a PM who will actually manage your property properly will be very hard.

The least important this you mentioned, was the word "cute". 

The challenges experienced in the cases mentioned above and elsewhere would be non-existent.

I'm doing a refi on a multi-family building right now with a lender I found here on the BiggerPockets Lender Finder - https://www.biggerpockets.com/business/finder/lenders They've been able to help me get a DSCR loan which others on this post have mentioned and they've been pretty quick should be able to close before the new year in less than 3 weeks from when I started the process!

People mentioned master lease so are they essentially arbitraging the unit?

The only thing I'd mention is cash flow with a paid off property is a lot higher than with a mortgage, so it is 6 of one, half dozen of another.