Ben,The NOI on the condo if fair but based on equity versus mortgage $600 is a little risky knowing how Condo associations tend to hedge up on their HOA fee's.

So I get 5% and appreciation versus just 5% of my investment.

Julio - Have you priced out a DSCR cash out versus a Heloc yet?

On the resale' an appraisal gives a value of 40-45k for an ADU, versus a duplex conversion you will get full value of each square foot.

What are the tasks that must be done by a property manager/owner versus someone who is assisting a PM/owner?

Anyway, nobody checks back in after their enthusiastically shared idea fails, but I would wager this will. 

We do a live show + Podcast and you will see that a lot of this business is legal versus just owning a piece of property. 

Also there's a difference between working out of your primary, versus working out of your primary and deeding it into an LLC. 

Lending rules then versus now is also in another stratosphere, show me one person in today's W2 world with a solid one($80k) that'd be able to buy 5 condos in 6 years, let alone 2.

Mortgage rates are much better versus Helocs due to Heloc being a shorter term and carry higher rates.You should need much you can buy a primary home for 5% down, Vacation home for 10% and investment for 15% and keep in mind if you have PMI the rate will always be lower.