Compliance items such as adding smoke detectors, hand rails, fire resistant garage entry-door and new stairs outside.

Since the properties are in New York you have a few extra steps you need to do to keep all of your funds out of NYs hands at closing.Here's an interesting BP thread on the South Carolina property tax issue you mentioned. https://www.biggerpockets.com/forums/725/topics/604427-south.... 

He told me to call in sick and come to the training lol but then he handed me his personal copy of the phone script that he had been using during his presentation.

What you will find is they typically appraise for far less than the hands off cost to add the ADU.  

Can they be more hands-off compared to other types of businesses?

If you're an owner and investor, how hands-on are you with your PM?

I would imagine getting the cash out is about the easiest part, having the check in hand is the exciting part, and buying a house is the nerve-wracking part. i watch videos at work and talk to my clients all the time about real estate.

On the other hand, I've been a lender for over 30 years and I can say for certain that past predicts the future when it comes to paying bills.

can totally enhance a working relationship. 

Section 8 could also work as a hybrid strategy here; the stable income is nice, and with good property management, it’s pretty hands-off.