Leasehold improvements become the property of the landlord when the tenant's lease ends.

Old tenant has legally ended the lease. 

I am a high salary earner.

BRRRRs are really tough right now with interest rates high, rents flat, contractors booked up, and tremendous competition for deals.i always get nervous with HELOCs as down payment because it can mean that you're not well capitalized. 

Some are glorified fee takers and any cash flow or equity return on the property is icing on the cake.I like it more when the fee is just a small component of the deal and the syndicator wins more when their passive investors do on the back end.

A verbal agreement is fine to get the deal figured out on the front end, but definitely try getting that deal down on paper sooner rather than later!

The plan was to build an ADU to add sqft, bedrooms, and rent to increase ARV and cash flow but the cost to do so is too high based on the projected return.  

Third, I fell i love with the house when i first saw it and thought the end buyer was gonna fall in love just I had done. 4th and final lesson, be in tune with the area that you're buying!

Now, if it is in an ultra-high demand neighborhood that is effectively land-locked, you will have more interest.  

As I browsed around looking into these markets the prices are appealing, but it jumps out quickly that they have high crime rates.