The house is a 3-bedroom, 1-bathroom, 1,300 square foot home currently undergoing a full renovation (interior).

Me and two other partners are flipping houses locally and are using a local individual for the financing.

With an inherited house, you can definitely make something. 

Those numbers were something that many of us were able to pull off pre-pandemic, but it is much harder to do so now.Also, keep in mind that the “cheap houses” in the beginning can end up wiping out your cash flow with a major Cap Ex or maintenance expense.

Although in Canada it was/is the Ensuite room. and even here on Biggerpockets one lady got on about how she is lobbying in the state of Indiana to have the term Landlord removed from the vernacular and replace with  ( Housing Provider)  the thought being Landlord denotes Lord of the land and superiority over the tenant I guess is the point. 

A friend of mine wants to buy some land behind his house in southeastern MA.

I've been reading up on 203k loans as a means to acquire a main house and then fix up a garage as an ADU. 5.

Financially, I have a somewhat tight budget, 1) Single Fam Reno's - I keep 125-150k as working capital for my BRRRR's (normaly keep 2-3 houses purchased and in line).

Anytime you see a house getting flipped, watch to see who lists it.

They don't buy a lot, and even when they or any affordable housing developer buy land, it often can take forever for them to consider the property and then the actual escrow can be long if they are building the capital stack to buy the property.