With new equity should we invest in Airbnb apartment or sfh?

[Nate Flickinger]

Hello Bigger community!

We are just getting into rei. I was wondering if any of you had any guiding words on the following?

Our situation in a broad stroke:

We will be completing an addition on our primary residence. When completed we should conservatively have $32,000 in equity to play with. More if we got into a 90-95% ltv loan. With that we can either build a small apartment on our 2 acres to rent out on Airbnb or use as down payment on a brrr move. Airbnb is relatively hot around us and we are located very close to two places that host classes/seminars/etc.

Any initial gut thoughts?

Our preference is that whatever we invest in can "quickly" develop equity that can be used for the next investment. I am motivated and ready to not have a 9-5 much longer. Don't want to do something that could stall forward momentum. 

I am currently drawn more to the apartment due to its proximity to our house and ease of maintaining our first investment. Hard to know for sure how much the Airbnb could make, while I can more easily run firm numbers on a potential investment. Is that Airbnb analyst tool/subscription worth looking at? If Airbnb doesn't suffice we can always rent it. Rentals are in high demand around here but in short supply.

Here is a fear; with the addition of the apartment on the land I would hope for a yet higher appraisal to be able to use for investing, but is that something to lean on? I am hesitant to rely on that as there are not many comps in the area. If we are adding any square footage of livable space to our property shouldn't the value go up? 

I thank you all in advanced for your experienced words. I love this community and what it is about. 

Hope to speak soon,

Nate