The price to get in is obviously TOUGH, but if you have a pile of cash to play with, it's hard to argue with or beat the long term results of the cities with the best job markets and lifestyle (for those who can afford it) in the world.

Assuming the property owner isn't playing games, why would an independent appraiser inflate the value? 

I personally dont know where title insurance comes into play with these either if your not recording a debt instrument and then getting a lenders Alta

What lists are you targeting plays a large roll also.  

And, ultimately, she is raising the money, which means that enough people trust the prospects of her performance.You simply have to decide where you stand and play or pass.

We've had success in all 4 of these markets, so really depends what you're trying to accomplish and how much money you have to play with.

By 30 you will have equity to play with and appreciated into some great cash flow.happy to chat anytime

As a realtor, I’ve seen deals like this play out.

And, in the seemingly exceedingly slim chance that a suit arises that brings tries to bring the LPs into play, chances are those attorneys are not going stop at your LLC, but will try to pierce that veil as well to get to you personally.And lastly, Duke's point: if you are looking to protect your investment from liabilities that may arise from you personally, that is another matter.  

ADUs are really the best play for California right now because those particular laws are trending in favor of the homeowner with some limitations.