Adding a Garage with ADU/ Mother-In-Law

[Ryan Cronauer]

I am looking to BRRR a property in the St. Petersburg / Tampa Florida area. I want a multi-family property but they are extremely hard to come by, leading them to be a bit overpriced when they do pop up. Properties that have an ADU already are also quite expensive and oftenn require a ton of work to fix up on top of it. I'm trying to get creative with how to add an ADU / Mother-In-Law suite. My thought is to buy a 2/2 property with ally access behind it (very common in St. Pete) and build a garage (hard to find in the area) with a living area above. I believe this MAY provide an easy way to not only force appreciation buy also make the property cash-flow a whole lot easier.

Does anyone have any experience with this? About how much would this cost? What is the easiest/cheapest/best way to accomplish this? I've looked into prefabbed structures and considered buying a blueprint that makes sense and reaching out to contractors to get quotes but I'm not sure what the right path is.