There was something in it for both of us.You have to find some sort of common ground or gain a lot of trust to show how serious you are about this.

of those I like next door best because it is hard to fake and the reviews are easily tied to a reviewer in your community.The costs of ADUs vary significantly for various reasons including by ground up vs conversion, difficulty with lot (sloes, access, etc), finishes, and even the size (bigger typically have lower PSF).Good luck

I find these to appreciate better than your typical LTR here which are usually in C/D class neighborhoods.I tend to look at each Real Estate opportunity as what its highest and best opportunity is. 

In these instances typically the lender will pay it to protect their interests. 

@Jeff SkinnerRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

We saw huge appreciation in the 2018-2022 inflation run up, but that has significantly slowed these days in my opinion.From a rental perspective your monthly income per unit after all expenses with a typical 20% down payment is likely $100-300 when you find a property that will cash flow.

Or does anyone have a rule of thumb on how much profit they typically expect to make monthly on a property?

I'll reach out and see if any would be willing to offer some sort of mentorship. 

IF that is the case full stop - yes you are paying for something called insurance but if you have a claim the company has the right to pretty much deny coverage for having the wrong type of policy.Landlord policies are higher cost but for a reason - there is a different and increased level of risk when the house is not owner occupied.Talk with your agent and get all the details sorted out. 

Forgive me if im being a bit forward: would you be willing to give some sort of tips/guidance of the process ypu went through from start to finish?