@Carlos Ptriawan population declines impact rural areas quickly and often are irreversible. 

Would anyone be able to give a quick breakdown of the various costs associated with planning and building an ADU in either your backyard, or as a garage-conversion in California?

Here are some more details...The property has a $40K+ water bill.The water company has informed us that with foreclosures, the new owners are not on the hook for past balances.so the lender/trustee is responsible for rectifying this... and the balance is so high they're delaying until they figure something out.Aside from that bill, there are no other encumbrances and we're able to get clean title with owner's title insurance.We got in the deal with cold, hard personal cash.We have a balance, which is {AuctionWinAmount - DownPayment].This balance accumulates interest until we close.so we have equitable title, but the property is not deeded to us until we close with the trustee.

Thanks for the responses!

Just another "spreadsheets aren't real life" reality check.Ok...Your response makes absolutely no sense, but thanks for trying. 

Thanks for your responses. 

., get some experience as landlords while also moving to our preferred environment.I feel like I'm opening myself up to a slew of "you're crazy, pal" responses, but if so, better to find out now than later!

A wise investor will not try to get rich quick with shortcuts.

Thank you all for the good responses which are helpful.

The worst part is that he took no responsibility for the failed project, claiming it a "success in every sense of the word" and blaming "the market," and "the tykes holders" for not being more active in the discord group.