My guess is he has seen sellers harmed in a big way in low value low credit markets he works in so for sure could have a negative bias.And this goes for Sellers to right now many are getting approached since you have armys of folks making offers this way ( I get them monthly and can tell they are sub to training disciples based on the offers they make) unsophisticated seller who does not engage a very good RE attorney to help with these is taking a massive risk

We are everyday approaching a European model where people own less and less of both land and buildings. 

Does this approach make sense as a first step for us?

Examples could include:Partnering with other investors to share risk.Using seller financing or lease options.Leveraging creative rehab techniques to save on costs.Negotiating with contractors in a unique way to reduce expenses.I’d love to hear any stories, tips, or approaches that helped you pull off a deal others might have instantly passed on.

However, it requires a long-term approach and more responsibilities than stocks, making it a more diversified portfolio.Good luck!

Quote from @Tom Pappas: As a former CPA and attorney who managed a distressed property investment fund, I've analyzed countless real estate opportunities.

OP look at your buy box, REI strategy and approach. 

For investors, this presents a niche market to target families seeking multi-generational living arrangements.Things to Keep in Mind:SB 9 projects must comply with local ordinances, which may include design and setback requirements.Properties in historic districts or areas prone to environmental hazards may have restrictions.Lot splits under SB 9 require that the owner occupy one of the parcels as their primary residence for at least three years.ConclusionSB 9 represents a significant shift in California’s approach to zoning and housing.

I’m curious to hear how others are approaching their 2025 planning.

The income approach might also be used, evaluating the potential rental income the ADU could generate.