I think you've got the process generally right, but recommend being as accurate as possible on the cost and the ARV.  

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I know a couple of great ADU specialists in the area if you need any recommendations.

Good question @Casey Kornoelje, I'd recommend speaking with an expert like @Whitney Nash

I know there is a lot to learn, and the learning curve is steep, but I am excited to jump in.Hi Clayton, I'd recommend that you look into Columbus Ohio and as someone who works with a lot of out of state investors - there's so many catalysts for why you should invest here.

@Jack B.Tax planning for an orderly disposal can be fun and highly recommend you work with your team on this.  

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

That being said if your new purchase will cash flow then I would recommend Brandon Turners new mortgage platform betterlife.com/ref.

I'm an out of state investor from California with $150k in cash looking to buy a single family in either Philadelphia PA or Columbus Ohio.Which area would you recommend between these two?

Can put you in touch with my lender  Hi Eliott, who do you recommend in Texas for vacation home lenders?