You don't want to put the time and effort into this if it's not going to result in a buyer because the numbers don't work. 

I just said that forming an LLC is not worth your effort as a first step.

Considering that these properties also come with higher effort tenants and wont appreciate much, these don't seem worth the time and effort. $150K-$250K condos and SFH: Very few properties in this price range, and the rents are very low ($1200-$1500) and most come with a $250+ HOA that wipes out any hope of cash flow.

I attended my very first REIA meeting on Wednesday which was a lot of fun, and I plan to attend at least 3 months worth of events, all in an effort to get an idea of what I'm getting into.

Most agents are compensated for their efforts via a commission that is typically 3%, and you're bypassing that and asking them to do the lion's share of what is important with wholesaling for you. 

Is it still possible to create this ADU or is it not worth the effort to grab the permits?

I guess there are two other considerations: (1) a lot of time and effort goes into lead generation and (2) these sellers don't want to be passed off to other buyers.

They are cash flowing well with little effort, so we just contracted for four more. 

He seems genuine and seems to offer some good programs according to his students.

The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”