@John Prorok, not being accredited certainly makes it slightly harder to find, but barely.  

Tenants expect rent to go up every year with the cost of living and at a bare minimum you should be raising your rent equal to the annual cost of living index.

I look for 1% rule and B, C+ area.For madison, it is great opportunity if you find any property for 160ish K, the rents are barely 1300ish and doesn't meet 1 % rule. 

Turn off water, extract water and do the bare minimum so no further damage happens. 

That said, if there's excellent separation between the units - i.e. the tenant can come and go and do their thing without you barely realizing they are there - it sounds like it could be really profitable. $1800 from 35k is a hell of a return and if the numbers are real (they're not just your pie-in-the-sky estimate), I would do that in a heartbeat. 

It works.I provided the model above showing the bare cash value before any growth assumption is cast upon it.

By that time I think house prices have barely appreciated, small give or take % wise.The one's thinking they'll re-fi once 6% or less, if that happens in the next 12-15 months it's very likely your house may be flat to underwater.

My split after all of the fees and the mentorship program was barely more than 50%.

It was set up great for JADU and had barely enough land (this was a risk) to place a stick built ADU (there would be some risk associated with the ADU - Will it fit). 

Someone dog gone it has to pay for all the Section 8  welfare  illegals that use our emergency rooms with no insurance you know.. someone has to pay for all that.. and its the small size bizzness guy like me who bares the brunt...