Investing in Bham Sec8 properties requires somebody with street by street knowledge.  

You said public water was available...would the lots require a septic system to be installed or is public sewer available? 

Getting a good painter at a reasonable price requires persistence and comparison shopping.

Things wear out over time, require updating, upgrading, replacement etc..

Purchasing a “distressed” property and “repositioning” it requires significant capital for improvements, build outs, holding costs, maintenance.In looking for that “needle in a haystack” slam dunk great deal you’re competing with very knowledgable, greatly experienced investors with the cash to make no contingency offers and close in a few days.  

I have 0 experience ground up construction loan program nationwide that does NOT require GC to sign anything, only provide proof of 3 C/O's (certificate of occupancy) over the last year I.e. built received occupancy permission now unit is on market or habitable. 700+ FICO I can get you 80%LTC loan to cost on the project on ground up construction for 1-4 units.

And, as I'm sure you know, both investors would require a 3rd party verification of assets to prove their accredited status.Let me know if this is what are asking or not.

It's easy to obtain, costs very little, and doesn't require extra, on-going effort to maintain.

There are some home loan options that require as little as 3.5% or even 0% down.

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.