Using additional bedroom/bath as Studio

[Austin N.]

I am purchasing a property that is currently using a permitted corner(bedroom) of the house as a studio (LA county). The space has its own entrance, bathroom, and kitchen/sink area, and doors to the main house are covered with cabinets. 

I am considering putting in a mini stove, or hot plate in the area to make it more desirable for prospective tenants. My main concerns are legality and insurability. From my reading of building codes it would not be allowed to add a stove, and they likely wouldn't let me add gas/220v connections for such stove, so the actual value will not increase. However, from an insurance POV it appears that my provider (state farm) will still cover fire incidents from an unpermitted stove. 

Are there any gotchas I am not considering?

Those of you renting small studios (~350 sqft), are ranges/stoves/ovens a deciding factor? Or would a small plug-in hot plate suffice? Worth the investment?

Thanks!

Austin