The biggest mistake new investors make is to walk a property, maybe explain in general terms what they want and then let the contractor come up with the SoW.For a bedroom this could be:- replace carpet- repair closet dooror- remove carpet- remove curtains, nails and screws- replace closet doors, entry door SKU#- replace window SKU#- refinish hardwood floors 144 sqft, clear/oil-based- prep and paint all woodwork- patch walls, texture, paint walls eggshell white clay, ceiling flat white- replace light fixture SKU#, replace lightswitch w decora/white, replace 3 outlets&covers- install blinds SKU#Obviously, the cost would be quite different.

Hang in there, and good luck!

Our lot size is 7300 sq ft and main house is 1700+ sq ft.Location: San Jose, CA- We were thinking to potentially design the ADU such that we could have a wall (or a door) that allows us to separate the ADU into a 1 bed/1bath for self use (or rental) and another part which could be rented separately on AirBnB as needed.

Regulations are both the best and worst part of investing in CO - best because they are confusing, which gets rid of large Wall Street investors and keeps competition lower and profits higher.

But hanging onto to some of those rates isn't always a bad idea. 

Know that the market you're serving does exist, and is like an underlying current that's being held back by walled garden that the government has only recently scrutinize.Zillow, Redfin and Trulia has all attempted at disintermediation and increase market efficiency, but failed due to the market powers that maybe. 

Let one Tennant hanging with defective outlets in the kitchen for 2 weeks when the townhouse was it was under warranty.

The only place we can get some semblance of this is on PassivePockets.com, where some sponsors are reviewed by LPs behind an LP-only wall. 

Just know what you're buying as there's still a lot of FP panels, 60 amp service, aluminum wiring, asbestos tiles/tape, and plaster & lathe walls.  

We removed a few walls and made it an open concept home.