I recently saw a property near the hospital, a nice single-family residence for $540k (on the market for 2 months with one price reduction since initially listed) with two dwellings (primary and 400 square foot ADU) in a very nice neighborhood. 

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

I'm trying to find data sources to get information on local rent values per bedroom/square foot, number of rental properties currently available, population demographics showing how many people in a given area rent vs. buy, etc.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

By asking how long does it take and recommendations for beginners, I am by no means trying to insinuate any get rich quick schemes and wind up fooled by some shady sales agent w/ a policy I know nothing about.

Wauwatosa is a top choice, Washington Heights offers a similar feel minus the school district and at a lower price point.

There are areas where the new construction numbers are 400 to 500 square foot and where you can find builders to build at 300 to 350 square foot - especially if you're doing more than a one off with them.And keep this in mind.

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.

Now, write down the price per square foot.  

Find Brandon's videos on YouTube for the "four square" method of analyzing homes and practice.