Yes, it is a commercial property and it normally is valued off cap rates,  but by checking sale comps, you have an idea of roughly what properties are trading at, and you can work backward. 

The manager could be well-intended, and getting duped by a plumber, but that’s where an experienced hand makes a difference.

Has anyone ever heard of a rehabber by the name of Tim Bratz?

I never want to be the first to do anything. garbage deal let it go. you are talking about council variance, constructing or renovating a structure, you won't be able to get a permit. not advice but not to by the deal and not to look at the adu as anything but garbage anyone who says any differently should look at a zoning map and show me why and how an ADU makes any financial sense. you are only getting yourself into a very poor situation. tear it down and move on. 

Reducing the cash required to move in by employing services that guarantee the security deposit for a monthly fee.

The promissory note didn't even look like it was written up by an attorney.

Not sure how many here will be affected by this but it adds to the tougher landscape for STRs in the mountains.

Not RE-specific but I'd recommend Die With Zero by Bill Perkins and Revitalizing Retirement (focused on our purpose and relationship portfolios) by Nancy Schlossberg.  

You could use the BRRR method to add 10 to 12 homes.So now you'd own about 1.5 to 1.8 million in real estate.

The second question involves whether you want to avoid PMI by paying the 20%.