You need to find single family with ADU that sold in your planned purchase tract that appraises high enough to make this work.

(They are no longer taking the high risk of insuring rental properties in CA).

Another thing I'd highly recommend is talking to property managers on BP to get some feedback-- it's probably very rewarding and can produce income without many starting costs, but it does come with headaches.By thinking about your next steps, you're already on the right track.

Overall ROI return will be 9%.

I don't want to come across as a Debbie Downer but I highly suggest especially if you're in Texas to find an existing park.

Kitchens and living areas will be other high traffic areas for those two as well. 

In small college town with high rental demandAsk price 745kGross rent: 9750/mth 177k/yr     (differed maint properties with potential 200/mth per unit increase once renovated) estimated reno (190k across portfolio)NOI: 91,475/yr   (12.6 CAP)    (includes tax, ins, listed maint for past yr)     After reno NOI 127,475/yr   (14.6 CAP) Deal info:    - Owner finance 745k 20yr at 6% 20k down minus deposits (~13k)Cashflow  = 2100mth     (self-managed) (self maint similar to the previous owner)By this alone, 2100 cash flow added per month, it will put me at my financial freedom number of monthly cashflow is equal or greater than my families spending amount.

I'm pretty familiar with car washes in the So Cal area, 5.5 (including land) is a bit on the high side here.  1.8 on the other hand (including land) is unbelievably low. 

With a purchase price of $90,000 and a sale price of $125,000 on the same day, the property promised immediate returns.

I was surprised even though the elevation is not that high (4.5k?)