I think it takes partnership between the elements you mentioned - local government, creatives, and real estate risk takers - and how fun it is to be part of the process.

I think by definition it does .. but I am not a ADU expert.. its a very common element here in the PDX market... but you should talk with a really good mortgage lender and or underwriter and ask them.. they will know

I've been listening to BP for years now and just now getting involved in the community element.

That kind of thing would only apply to capital elements of the house. 

If you have these elements then your business is now: weekly status reports from contractors + periodic inspections, daily review of deals from your network, and reporting success to networks.

If you set an oven on broil the element on top goes on and browns the top of the food, if you leave it on too long it burns. 

You missed the most crucial element.

Getting a payoff via refi or resale without the distress element may be a better course of action. 

All markets have both investment return elements and it maybe the investors expectations of time to account for the one that fits best, so not really a right or wrong deal vs what is more profitible over long hauls. 

Those HOA fees, special assessments, dealing with the HOA boards, and handling all PM duties and associated elements, along with working 2 W2 earnings teaching jobs were beginning to way  heavy on my mind.