What this means for you s that there is a good chance that your existing SFH becomes rent controlled when the ADU is placed in service (I would like to see the law clarified on this as this practice goes against the rationale of the 15 year exclusion). the reason this is important is that any rent reduction places your base rent at that point for rent control purposes.  

That can include roof, water heater, HVAC, plumbing, electrical, mold, rot, warped floor boards, bad foundation, termites, sink holes, fascinating animal occupants, bad reputations (that was a drug house or had a fire or was used for other things that I don't want to mention), and so on.

Units all on one water meter.

I'm currently based in Phoenix, having originally moved from Washington State.

I've found a couple of options, but not sure how legit they are:-Delayed financing prior to 6 months, but only based on purchase price and closing costs, not ARV which isn't ideal.

The housing authority's big concerns in my market: bedroom windows will open and stay open for egress, smoke alarms in every bedroom, weatherstripping on door, TPR valve on the water tank, to name a few.

As a host you can adjust your pricing based on demand. 

Check out Milwaukee, WI the water is warm and the market is hot :)

Hi, I’m based in the Seattle area but invest in the Midwest with 9 doors across Memphis and Detroit.

This is why everyone want to become GP lol ;-)- So in your personal consideation, all in all, LP investment in bad market would perform even worse compare to invest to direct ownership- However, lets say now is good time to invest and market is good, then it is best to become GP of syndicator because you would make money 2000 times more LOL - hope you get it how you approach investment based on time and risk perspective.