I'm not sure what the renovation cost would be to set this up for a rental.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

@Dan H.Most GP’s don’t allow it, especially for accredited investment offerings because the purchase must also be accreditedWe have a reg an offering and have a death and disability clause that gives an out and have had one case where this occurred at of 700+ investors.As someone else mentioned, you would essentially be setting up an exchange which would require finra licensing and the licensing costs alone would make it cost prohibitive

Hands off ADU addition will cost significantly more than $100k.  

They won’t give me just a quote for what it would cost for the same work in the first estimate.Am I obligated to replace or repair the AC?

Although if you paid cash, youre always free to forgo insurance and assume the risks yourself.

I have recently become incredibly interested in real estate and have been studying up in all my free time for the past month or so.

Appreciation tactic is a tough one to start with as markets can stagnate, and you end up with a property that ends up costing you maintenance, but only covers the mortgage or is negative. 

However, there is a tax deferral strategy that could accelerate your depreciation, keeping more money in your pocket today, known as cost segregation.A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.

I find that they actually offer more than some other programs at a fraction of the cost.