Due to item 1, adding an ADU can require years to start achieving any return (once the accumulated cash flow recovers the initial negative position).4) Adding an ADU is a slow process.

I explain renters insurance during the tenant selection process.   

It’s great that you’re being thoughtful about the process!

The tenant has proof that the rent payment went through successfully and was processed.

I am a broker in the area and I'd be happy to help you through the process.

With regard to renovations, I always suggest taking incremental steps to bigger renovations or partnering with someone who has already done a renovation at that level.I've been known to just go for the big rehabs for my personal investments here in Chicago , and during that process, it's always more stressful than it needs to be...As far as navigating the competition, I've found the best thing I can do is get EXTREMELY CLEAR  on what I am looking for; then I am confident pulling the trigger quicky. 

We started the eviction process.

If you are just downloading data room info from brokerage sites and plugging into a model, you are refining your skills on the "act", which is certainly necessary and helps make the process faster.  

Would love to hear your process!

The process is easy:1) You’ll receive a disarmingly simple one-inch-thick three-ring binder containing your plan documents.