Add this to smaller network and typically less knowledge for new RE investors.  

Another benefit: three friends renting together typically need their own policies.

Studies typically cost $3,000–$5,000 but affordable DIY options (around $400–$500) exist for simpler properties.

The sales comparison approach is typically done for residential real estate and will be less appropriate and come in under value because there are no good comps, and even an appraisal using the income approach (unless the appraiser is trained to do more complex commercial appraisals) is probably not going to be the most accurate either because they typically use market cap rates and in this case you don’t have good comparable income properties to find the market cap for the analysis.  

As you and I know, a quad would be sold typically to an investor. 

In his experience, Memphis’s higher-than-typical rent-to-price ratio sounded great in theory, but property management turned out to be a huge factor-especially if you’re not local.

The challenge, as you’ve discovered, is that traditional HELOC lenders typically want the property titled in a personal name rather than an LLC.

@David Putz I wonder if someone is maintaining a list of where all the servicers are licensed...I can't imagine that would be easy to keep track of, but I don't know how often they would change.Having a resource that has all the typical fee info and service states for each servicer in one document would be amazing.

Here is a list of what adding ADUs in my CA market is typically a poor RE investment:1) The value added by the ADU addition is often significantly less than the cost of adding the ADU.

Just a case in point, the tiny apartment I live in (800 square feet) the mortgage payment is about 4000 per month, and the typical rent for such a place would probably be somewhere between 1500 to 2000 per month.