I think what we’ll do is build one first ( 9-12 months ) , found a hard money lender with over 273 reviews on here really great , get them to fund the construction , buy the lot for cash in one of the surrounding counties , hire the GC and depending on the market or appreciation either 1.)

@James Brown I think it's hard to run a calculation for a rehab and a BRRR together as they are really two separate stages.

As a property manager for over 5 years, I definitely know that it can be a tough and thankless job at times.There are specifics in your post that I won’t go too much into here, but I think a professional property manager would handle some of these situations differently.

I would think these are considered operational expense but with a 1031 I’m just not sure.

I think most places are in this range

If I would not consider fighting this, it means few people would.I hope you knew this could happen as part of your due diligence when adding the JADU  Good luckThank you because it validates exactly what we were thinking. 

Just thinking out loud...

My PMC suggests lowering the rent but it will be below market and less than what it had rented for before the previous tenant had it rented.That's a good stat to know.They currently have them marketed on their website and on the MLS sites.

This means if your friend offers $500k in “cash” for a property the appraisers think is worth $400k.

(I think the real ratio is about 50 bad ones to 1 good one!)