But that's typical with new builds here.I think Elan was smart to list at 1800/month, but I do not agree it was under market - the fact that his rented quickly and there are others sitting for more than 100+ days tells you that 1800/month is exactly market value."

Whats a typical multiple for such asset?

Issues 1) even garage conversion ADUs in single family zoned areas typically cost more to build than the value that they add.  

It's just an unfortunate side of house flipping when you're first starting out - you typically don't have your downside covered.  

So, a house that would typically cost $100 per sq. ft. to build 5 years ago, is now costing $200 per sq. ft. 

Typically AE's will be commission only or commission + a small base.

As a new fix and flip investor lenders will typically want to see 20% down payment and will be able to fund 20% of the rehab budget (80% LTC). 

Purley asset-based lenders are most likely going to be hard money lenders whose rates are typically going to be much higher.

And then also do you typically repay each partner their upfront costs from the profits before then distributing profits?

It'll be easier to start with a turn-key property, but if you have a good contracting team, a value add will typically offer better returns.