.• In a low-density cluster development if it conforms to development standards of the R-1 zoning district, and the development and use standards of the low-density cluster permit.ADUs are allowed:• In R-1, R-2, and R-M zoning districts on lots that have one single-family residence.â�¢ On lots with a single-family residence In Planned Development (PD) districts that are subject to R-1 standards and uses OR the ADU conforms to the development and use standards of the PD district.• On any lot with an existing single-family dwelling unit, where regardless of zoning, the lot has any of the following General Plan Land Use/Transportation designations:- Residential Neighborhood- Mixed-Use Neighborhood- Urban Village or Urban Residential- Transit Residential or Rural Residential- Downtown- Mixed-Use Commercial• On two-family (duplex) lots and on multifamily properties• In a low-density cluster development if it conforms to development standards of the R-1 zoning district, and the development and use standards of the low-density cluster permit.Minimum Lot Size3,000 square feetNo minimum lot sizeMinimum Setbacks from Rear and Side Property Lines0 feet for 1-story conversions and new construction.5 feet for second-story ADUs constructed above a garage or accessory structure.0 feet for 1-story conversions and new construction.4 feet for second-story ADUs constructed above a garage or accessory structure4 feet minimum rear and side setbacks required for detached ADU in multifamily developments.Maximum HeightFor detached ADUs:Single story – 18 feet maximumSecond story – 24 feet maximumAttached ADUs are subject to the height limits of the main home.Single-family properties - No change in height requirements.Multifamily properties - 16 feet maximum height for detached ADUs.Rear Yard CoverageArea covered by the ADU, accessory buildings, and accessory structures, except pools, shall not exceed forty percent (40%) of the rear yard.Area covered shall not exceed forty percent (40%) of the rear yard or up to 800 square feet, whichever is greater.Detached ADU Allowed LocationsRear yard only, at least 6 feet away from primary dwelling.May be attached to a detached garage or other existing accessory structure.Must meet minimum setbacks for an accessory building in accordance with Section 20.30.500.No changes except that ADUs that exceed forty percent (40%) of the rear yard must maintain minimum 4 foot side and rear setbacks.

Generally the area has a lot of low income population, some crime, but seems rents are low and tenants are paying. 

It is relatively low value (50K), although it is in good condition after some recent repairs. 

Start low......75% of asking. 

But you should do your own research as to whether or not you can find a brokerage that will keep your transaction fees low. 

Originally posted by @Adam Schneider:@Daniela Reyes In addition to your local REIA, check out groups like AAPL (American Association of Private Lenders) and go to lending conferences (AAPL has one coming up in Vegas, PitBull does some...).I went to the AAPL one in Vegas that was pretty good not necessarily for the AAPL portion it was very low level rudimentary for me personally.. but there were a bunch of vendors there HML from all over the country along with crowd funders etc.. that networking was pretty good I thought. 

For example, I know that we must have heating and cooling, even thouh we're in Florida.

I personally do not try to time the market and only stick with low-cost index funds.  

Build it and they will come@Adam Lowe, sure having a few buyers in the fold is helpful but ultimately if you have a good deal it won't be hard to find someone to move it to, assuming you're getting out there and networking with other investors. 

Purchase price $170K25% down: 42,500127,500 Financed over 30yrs @ 5.250 (Of course, yesterday the feds rose the interest rates.)Out Of pocket: $51,000 (Includes closing costs($10,000) and down payment.)Expenses: (Month)Mortgage: $704 @5.25%Taxes: $416Sewer:$150Insurance: $83.50Oil Heat: $50Misc: $100Total: $1,503.50Income:Unit 1 : $1000Unit 2 : $875Unit 3 : $800Total : $2,675Yearly:Income $32,100Expense: $18,042Total made after expenses: for the year $14,058Now for the amount i'm putting down would you consider this a good or bad deal?