These can be your own prospects, if your marketing is producing them, or from wholesalers and agents.The key to this business is the ability to recognize, structure, and enhance profitable deals.

That can cause you a lot of heartache and trouble! 

Sure, I managed my first property on own and learned a lot, but got lucky and did not run into trouble.

Just make sure you know what you're getting into by going with a FSBO since there aren't many protections in place for buyers if they have trouble closing or have an issue with the property after the sale is complete.3) Stay informed - There are lots of different websites and newsletters that can tell you about new properties on the market, including Redfin or Better Estimate, which I check regularly.

I was thinking SB9 instead of ADU so it would produce a new sellable property.  

Auctions and foreclosure sales occasionally produce a decent deal. 

The trouble is I need to live somewhere, which means the only way to enjoy the profit is by downsizing.

i am going to househack my 1st property so iwant to get a head start by analyzing properties that i am interested in. my goal is to airbnb (STR) the bottom half of the home to hopefully produce faster and higher income by making it look nice.and the i will be renting out one upstairs room while istay in the other one.I am currently using rentometer but its just giving me the monthly rent for the whole unit so iwonder if theres another site for just rates by the room?

I don't doubt that with a lot of searching you might be able to find some lower end condos or apartments which might produce a little cashflow with a low HOA but for SFH that game is pretty much over.Now can you find a serious value add fixer upper SFH, renovate it and rent it out for cashflow?

I think you might have some trouble having utilities and transportation costs covered until you have the place re-rented if you had to explain that to a judge.