It's a cost for sure, but the alternatives are not appealing.

I concluded that this makes it appealing for use as an Air BnB or an ADU potentially. 

I would put it on the market first and do some touch ups to make it more appealing to buyers.

Maybe upgrading the appliance package or adding some curb appeal or create an outdoor entertaining space?

Buying all cash is very appealing... buuuttttt.... it has some real downsides.  1.

(i.e. if the borrower was to default)What i found particularly appealing about the BRRRR method was the "velocity of money" or the fact that I could repeat this process several times and quickly. 

I appealed by triggering the Tidewater Clause, which gives all parties 72 hours to submit data to support a different appraisal amount. 

Long term passive income sounds more appealing then a fix and flip.

I hope so because the idea of a condo appeals to me, I just don't want to hurt myself in the long run.

Even then, the appeal of adding your own PM company to the mix will depend a lot on your involvement in your rental portfolio.