The topic of Bousfield localizations has a lot of literature which has on most of the occasion some tameness assumption on the presentability of the model category. Recently I have been trying to avoid any tameness assumption but I can't avoid a couple of results about localizations.
Thus, the content of this question is: (if true) are the following two statements already in the literature?
Hope 1: Let $\mathsf{M}$ and $\mathsf{N}$ be model categories and $\mathsf{L}: \mathsf{M} \leftrightarrows \mathsf{N}: \mathsf{R}$ be Quillen adjunction which specifies $\mathsf{N}$ as a reflective subcategory of $\mathsf{M}$, then $\mathsf{N}$ is Quillen equivalent to a Bousfield localization of $\mathsf{M}$, where the new weak equivalences $\bar{\mathcal{W}}$ are $\mathcal{W}_{\mathsf{M}} \cup \mathsf{L}^{-1}(\mathcal{W}_{\mathsf{N}})$.
This should be seen as a technical improvement of Rem. 3.8 on the nlab page about idempotent monads.
Hope 2: Let $\mathsf{M}$ and $\mathsf{T}$ be an idempotent monad over $\mathsf{M}$, then there exists a model structure on $\mathsf{Alg}(\mathsf{T})$ and a Quillen adjunction $\mathsf{L}: \mathsf{M} \leftrightarrows \mathsf{Alg}(\mathsf{T}): \mathsf{R}$ such that $\mathsf{Alg}(\mathsf{T})$ is Quillen equivalent to a Bousfield localization of $\mathsf{M}$.
This would be a variant of Prop. 3.8 in the lecture notes by Urs Schreiber where the model structure is not assumed to be right proper and the notion of idempotent monad is strictified. In Def. 3.3, while I really like that $\mathsf{T}$ does not have to be a monad, I find quite unnatural the condition (3) and the assumption that the structure is right proper in Prop. 3.8.
It is fine to assume that $\mathsf{M}$ is right proper if needed, but I cannot expect the adjunction to respect it.