I'd really appreciate feedback with regard to whether I should move forward with investing in real estate, or to let the desire go for the time being: I'm 34-years old, married, have 2-children under the age of two, own a home, and have a stable and good paying job.

To start, I'd do a Discounted cash flow analysis and cap it like a regular income producing rental....do you know the rent the tenants were paying in the two sales you showed?

I’d be happy to connect and run the property by some developers and investors I work closely with to see what price they would be willing to pay.

Hi Asma, if you're in the Detroit area (sounds like you are), I'd attend the Detroit Renegades meetups.

Imagine the 2nd property is a 4plex, each unit can be rented $1500/unit of 75% =$1125 x 4 units =$4500 worth of income to offset your that 2nd property.

When you mentioned studios and 1 BR properties taking in upwards of $500k per year, I imagine you're talking pesos, not dollars.5.

Hey @Michael Walley - I'd start off by saying, you are generally in a pretty good position if you haven't already paid him.FOR SURE YOU NEED TO GET LIEN WAVIERS if you have any indication that things could go sideways - don't make a payment til you get them.I would also ask for some type of breakdown of the scope of work you are paying for as you mentioned.Here in Chicago / Illinois a general contractor has 4 months to file a mechanics lien from the last time they were working on the job.I wouldn't rush to get an attorney.

<3I have a bunch of random thoughts, questions, & scatterbrained ideas regarding building an ADU that I'd love some guidance/feedback on if anyone is willing or has knowledge/expertise on! 

Between the 2 I'd pick contractor, because its running a business and there's a shortage in CA.

I'd estimate 50% of my investor clients during the past two years utilize professional property management companies and are very satisfied.