Look at the application, start pricing third party flat fee services for each step.

First mortgages involves loss mitigation (occupied 1st) and asset management (vacant 1st).

They don't tear things up, they don't party, rent is generally paid early, lots of positive attributes!!

Leverage magnifies return. 3) The effort involved in adding an ADU is comparable or larger than a rehab associated with a BRRRR.

In the Bigger Pockets free book, "Real Estate Rewind", as one of the 11 co-authors I wrote about one such Tax Sale purchase and made money but not enough money to warrant the risk involved.

Its typically triggered by a third party, so until someone wants to complain, there is no ADA compliance police wandering around giving citations.

Then there were some issues with the inspection report that ruined 3 contracts prior to me getting involved.

For me the hardest part is wondering if they'll pay.

Which level program were you involved in?

Quote from @Garry Lawrence: I need advice on a serious situation involving a property I’m about to buy.