If you in fact purchased a tax lien under the new system (people bid down the interest rate) then you are not allowed to set foot on the property and you certainly cannot cut the timber until after a judge forecloses your liens, quiets title, and orders the clerk to issue a deed to you.

And you could probably still rent it out for $1500-$1800 a month.When we lived in Burbank, California, we rented out our 300 square-foot studio guest house for $1500 a month.

Those prices range from $800k-$1.5M depending on the specifics but the income increase is as much and the cost to own is slightly lower because insurance, maintenance, and utility costs do not go up linearly on these making a bigger margin for you.  

I should share the capital stack, not pretty but gets the job done. rent price per square foot is super low.

The main house is completed and as far as labor, I spent $40,000 on just labor and that includes everything from full gut demo to finishes.We are talking about a 4BD, 3BTH two story 2400 ft.² home with a bonus room.This was a full gut job, replaced…12 Windows (new construction)2 sliding doorsTook out all carpet throughout.Took out this ugly 2” thick tile from half of the downstairs portion.Removed popcorn throughout the entire houseTook one wall downA little framing workReplaced entry door 80” x 92”Drywall patchingSmooth drywall work50 recessed lightingAll electrical neededAll plumbing neededNew cement walkway instead of one walk to the front door I created two steps with two lights in each step.Install kitchen cabinets, excluding countertopInstall all three vanities3 bathtubs with one being a modern standalone tub in the masterAll tile work (bathroom wall & floor, kitchen backsplash)Installing of all hardware, faucets, showerheads, etcInstalled 8 single panel doors with hardwareAdding self-leveler after tearing out that thick tileNew LVP flooring throughout the entire house except bathrooms,all baseboards, trimsPainting the entire house, painting all the doors, painting the outside trim.Reframing the outside balconyReframing the fireplace to install new linear modern electrical fireplaceand they took care of the two trash bins.I mean, completely redone.The only thing that was not included in the $40,000 is landscaping, counter top cut and install and of course the ADU which I’m currently working on now.So my question for my fellow investors and contractors did I pay too much?

If you didn't notice anything during the inspection process pre-closing, or just weren't looking for any smoke smells/damage, try to get over there ASAP to check for it (changing out the furnace filter is always an easy and valid business reason to stop by).All that being said, I can't stress enough the importance of getting off on the right foot with inherited tenants. 

This gave us a feel of foot traffic, if people hung around certain locations, and any other suspicious activity. 

If so, maybe $45/sq foot at 900 sq foot is $40K? 

What's the construction cost per square foot?

The cost of labor and materials now is insane.The type of work on my custom house is about 400 a foot.