@Nate McCarthy I think this could be a great opportunity if approached thoughtfully.

I’ve been exploring buy and hold opportunities in my area, and I recently came across a situation I’d like some advice on.I’ve come across a property in my area that I’m very interested in, but I want to make sure I approach the situation the right way.

My approach is to take a few minutes per quarter and make sure it is accurate by manually checking my true competition and adjustmenting prices accordingly. 

These methods include: Detailed Engineering Cost ApproachDetailed Engineering Cost Estimate ApproachSurvey or Letter ApproachResidual Estimation ApproachSampling or Modeling ApproachExperience or “Rule of Thumb” ApproachIt’s important to understand the differences between the approaches including which one best fits your property and the reliability of each approach.DETAILED ENGINEERING COST APPROACHThis approach compiles the costs from construction and accounting reports to build a report.

McElhannon: I'm curious on peoples go to approach to secure financing for an investment property - use a broker? 

@William Bohan, Yeah, being a CA resident you'll have to do a 1031 exchange or your tax will approach 40%. 

Curious to hear any creative approaches that have worked in today's market.ARV and future value are speculative so when I am looking at property I am looking at it for longer term - does it fit within my strategy based on conservative estimates.

Cost approach A straightforward method that adds the cost of the land to the cost of building construction.

It's best to approach 2-3 lenders to compare their rates, terms, and loan programs.

I am currently working on phase 2; building 2 ADUs.The permits are already in the works but the biggest question is what is the best approach when funding these 2 ADUs BEFORE I have the equity from my home?