This initial negative equity position consumes the initial cash flow.  2) the addition of the adu makes the property multi family and likely makes rent control apply.  

It’s simple, people who spend good money on the home of their dreams don’t want STR’s next door to them.  

This could be just specific to the real estate industry, but in both recruiting and cybersecurity consultants (hackers for hire), the ones that start their own business/consultancy, are the ones who after spending 2 years (usually exactly 2 years which is when recruiters will message them), the high performer will either 1.

Additionally, where do you research if an area has a good rental pool? 

Keeping pets requires a one-time nonrefundable pet fee of $200 (per pet) as well as an additional $20 monthly rent for each approved pet.

Supplement this far simpler entity approach by ensuring you have appropriate types and levels of insurance, you operate your business in a manner in which your conduct is not considered an exclusion in your policy, you work with licensed and insured vendors, you execute contracts with indemnification clauses with these same vendors/ require additional insured status &  maintain appropriate licensing and permits.

Personally, I'd spend a little more if I knew there was significant value add there.

The last polling I saw showed that the large spending by the aids health foundation was working.  

Would be great to reconfigure the lot lines on the two additional parcels so they'd both meet the minimum to build.

The investors I know finding properties on the MLS are making 30+ offers a week, embarassing offers, in hopes of finding 1 or 2 properties a month.Others are door knocking, cold calling, spending money on mailers to find off market properties.